Patel Integrated Logistics Ltd (PILL) announced that the company has plans to invest around Rs. 60 crore over the next 12-18 months to expand its warehousing and technology infrastructure.

PILL is the merged company of Patel Roadways and POBC. The company provides unified solutions through door- to-door express cargo service, surface transport, air and sea transportation, besides offering services in warehousing and secondary distribution.

Arif A Patel, Executive Vice-Chairman said, "All the funds would go into the expansion of surface express cargo business."

The company would set up 13-15 warehousing hubs across the country to widen its logistics network, Mr. Patel said.

The stock closed today at Rs. 92, up 3% compared with previous close of Rs. 89. It touched an intraday high of Rs. 94 and low of Rs. 88.