Delhi, 08th June 2023: Tata Motors Finance, one of India's leading NBFC, have entered into a strategic partnership with CJ Darcl Logistics Ltd, a leading multimodal logistics solutions provider, to extend a credit facility of ~ INR 125 Cr.
The expanded credit line will equip CJ Darcl Logistics Ltd. with the necessary financial resources to strengthen its fleet capacity, enabling it to deploy Tata Motors Limited (TML) vehicles under its fixed contract business, efficiently manage its fuel expenditure, streamline working capital, and meet the growing demand for its logistics service offerings. The credit outlay includes an operating lease financing of 150 Tata Motors commercial vehicles amounting INR 75.00 Cr., an Invoice Finance Facility of INR 50.00 Cr and a Fuel credit line of INR 0.50 Cr.
Samrat Gupta, MD & CEO of Tata Motors Finance, highlighted the significance of this collaboration while recognizing its potential to make a positive impact. He said, "Our partnership with CJ Darcl Logistics Ltd. is in line with our commitment to actively contribute to the growth narrative of key players in the logistics industry. Over the years, CJ Darcl Logistics Ltd has emerged as a formidable sectoral player, driven by exceptional leadership, robust fundamentals, and a well-defined mission and vision. Through our comprehensive credit package, we aim to empower CJ Darcl Logistics Ltd. deliver top-notch services to its valued customers and enable them in achieving their financial goals."
Commenting on this expansionary development, Krishan Kumar Agarwal, Chairman & Managing Director, CJ Darcl Logistics Ltd. said, "Our collaboration with Tata Motors Finance is a strategic move that will enable us to further strengthen our financials, enhance our fleet capacity, and accelerate business growth. We are confident that this partnership will create mutually beneficial opportunities and pave the way for long-term success."
