Breaking News

You are here » Indian-Commodity  :  Top News  :  Allcargo Logistics to set up Logistics Park in Haryana


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.

Related News

View all news

Crude oil futures end lower on Monday

Crude oil futures ended lower on Monday as steep declines in the US stock market fed an aversion to so-called riskier assets, which include oil. Meanwhile, the US-China trade dispute escalated as China......

Gold futures trade flat on Monday

Gold futures was trading flat on Monday as growing uncertainty over whether the United States and China will be able to reach a deal to end their escalating trade war fueled safe-haven demand for the precious......

Jeera futures trade higher on rising demand

Jeera futures traded higher on NCDEX on the back of rising physical and export demand at the spot market. However, higher availability of crop this season, capped some gains.The contract for May delivery......

Top News

View all news

SRF, NIIT Technologies and United Bank of India to see some action today

SRF has entered into a definitive agreement to sell its Engineering Plastics Business to DSM, the Life Sciences and Materials Sciences Company in an all-cash transaction, amounting to Rs 320 crore. The......

NIIT Technologies concludes sale of 88.99% stake in ESRI India Technologies

NIIT Technologies has concluded the sale of 88.99% equity shares in ESRI India Technologies, India to Environment Systems Research Institute Inc., USA. Consequent to above sale, ESRI India Technologies,......

United Bank of India to raise Rs 1,500 crore by various means

United Bank of India has received approval to raise equity capital not exceeding Rs 1,500 crore in one or more tranches during the financial year by way of Qualified Institutions Placement, Public Issue,......