NEW DELHI, May 28 -- Transport Corporation of India Ltd (TCI) is stepping up investments in its coastal shipping business with plans to induct new vessels and add capacity over the next few years, betting on rising demand for multimodal logistics and lower-cost freight movement.

The Gurugram-based logistics and supply chain management company has planned a capital expenditure (capex) of Rs.550-600 crore in FY27, sharply higher than the Rs.370 crore spent last year, with nearly half earmarked for ship acquisitions, managing director Vineet Agarwal said in an interview.

"We will be spending about Rs.200-250 crore that will go towards making final payment for acquiring the two new ships coming from China. The ships will be delivered this y...