GreenLine invests $275 mn in green logistics; Kamath backs with $20 mn

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GreenLine invests $275 mn in green logistics; Kamath backs with $20 mn - Business Standard

Quick Summary:

GreenLine Mobility Solutions Ltd, the Essar group venture that operates LNG and electric-powered heavy commercial trucks, announced a USD 275 million equity investment to help deploy over 10,000 LNG and EV trucks as well as set up 100 LNG refuelling stations and EV charging points with a view to accelerate decarbonisation of heavy trucking in India.

This includes a USD 20 million investment from Nikhil Kamath, marking a significant boost to India's green logistics transformation, the company said in a statement.

"GreenLine aims to decarbonise India's transportation sector, which contributes nearly 15 per cent of the country's total carbon emission," the statement said.