Chennai’s Refex Group to invest INR 1,300cr for growth of biz travel
Chennai-based Refex Group, through its green mobility venture, will invest INR 1,300 crore in the next three years for expanding business. Refex Green Mobility provides third-party employee transportation using electric vehicles (EV).
Refex Green operates in Bengaluru and will introduce some 10,000 vehicles for expanding to new cities like Hyderabad, Pune and Delhi. The company on Monday commenced its operations in Chennai with 49 cars.
Refex Group has been in business for more than two decades and has diversified into refrigerant gas, renewables, ash and coal handling, medical technologies, pharmaceuticals, airports and transportation, among other such business verticals, reports Shine Jacob for Business Standard.
“We are planning to invest around INR 1,300 crore in the next three years to expand our presence across the country,” said Anil Jain, MD, Refex Group. Refex Green started operations in March 2023 from Bengaluru as an all-EV initiative and will cater to business travel.
Refex Group said the travel service will help improve its environmental, social and governance (ESG) footprint and in abating carbon dioxide emission. The company also made an announcement about a new downtown office in Chennai, in addition to the existing premises in T Nagar.
“While the team at Refex Green Mobility has been working hard in Bengaluru since its commencement of operations in March, starting in Chennai to serve the corporates in our city was a natural progression for us. This is the right moment to also announce our new office in the heart of the city. The 15,300 square feet office space can accommodate 100+ employees and has the best of facilities for employees’ comfort,” said Jain. (Source: Business Standard)