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02-May2018

Allcargo Logistics to set up Logistics Park in Haryana

Allcargo Logistics has received an approval for the development of the Logistics Park, at District Jhajjar, Haryana, connected to Dedicated Freight Corridor and a rapidly growing National Capital Region. The Board of the company at its meeting held on May 2, 2018, approved the same.

Initially, the company would set up warehouse(s) and Inland Container Depot(s) through Special Purpose Vehicles companies (SPVs), viz. Allcargo Multimodal and Allcargo Inland Park, being wholly owned subsidiaries of the company. The company through its SPVs, would acquire land parcels admeasuring 93 acres or thereabouts for the aforesaid purpose. Additional land parcels would be procured in a phased manner.

Apart from the above, land parcels admeasuring 28 acres or thereabouts would also be taken on a lease basis for rail link connectivity.

Total outlay for setting up the Logistics Park, at Jhajjar would be approximately Rs 500 crore out of which up to Rs 150 crore would be incurred immediately for procurement of the said land parcels and balance would be incurred in a phased manner over a period of 3- 5 years.

Allcargo Logistics is an India-based holding Company. The company is engaged in providing integrated logistics solutions. It offers logistics services across multimodal transport operations, inland container depot, container freight station operations, contract logistics operations etc.


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