Allcargo to set up logistics and industrial parks

In a bid to to tap opportunities from the consolidation of cargo distribution under the Goods and Services Tax regime, Allcargo Logistics Ltd is setting up multi-modal logistics and industrial parks at five locations.

The board of Allcargo recently approved the plan to set up logistics, multi-modal and industrial parks.

Speaking to BusinessLine, chairman and managing director of the company, Shashi Kiran Shetty said, “We want to be one of the early birds in this.”

It is to be noted that Allcargo has set-up a wholly owned subsidiary, Allcargo Logistics and Industrial Parks Pvt Ltd, to manage and maintain the facilities at Bengaluru, Hyderabad, Nhava Sheva (near Mumbai), Jhajjar (in Haryana) and Nagpur.

Sandeep Chadha, a former partner at real estate-focussed private equity firm Milestone Capital Advisors Ltd, has been roped in to head the subsidiary.

Image Credit : itln.in

Research Desk

Next Post

800 km of the Dedicated Rail Freight Corridor to be opened this year

Fri Aug 17 , 2018
Around 800 km of the Dedicated Rail Freight Corridor is expected to open this financial year, and the remaining stretch of 1,500 km is likely to be commissioned next year. Quoting an official source, a BusinessLine report said the project is only 50 per cent complete in terms of civil […]
800 km of the Dedicated Rail Freight Corridor to be opened this year

Categories

Blog Stats