GreenLine's USD 275 Million Investment to Revolutionize India's Logistics

GreenLine Mobility Solutions, an Essar group venture, is expanding its green logistics efforts with a USD 275 million investment. The funds will help deploy over 10,000 LNG and EV trucks and establish 100 refueling and charging stations across India, actively reducing carbon emissions in the country’s trucking sector.

GreenLine Mobility Solutions Ltd, a venture by the Essar group, is poised to transform India's logistics sector with a significant USD 275 million equity investment. The company aims to deploy over 10,000 LNG and electric vehicles (EVs) trucks and set up 100 refueling and charging stations, accelerating the decarbonization of heavy trucking.

This investment includes a USD 20 million contribution from noted investor Nikhil Kamath, marking a significant step towards a cleaner transportation future in India. GreenLine operates LNG-powered trucks for long-distance hauling and EVs for shorter operations, while its subsidiary, Ultra Gas and Energy Ltd, is constructing a national LNG refueling network.

The move aligns with India's goal to reduce greenhouse gas emissions, targeting a strategic shift in the country's carbon-intensive road logistics sector. GreenLine offers cost-competitive services, providing LNG-powered trucks that cut carbon emissions by up to 30%, thus supporting corporate sustainability goals.

(With inputs from agencies.)