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Allcargo Global Logistics plans to build container freight station at JNPT

23 May 2011 Evaluate

Allcargo Global Logistics is planning to build a container freight station at Jawaharlal Nehru Port Trust (JNPT) which is expected to be operational by the first quarter of 2012. The company is also looking at expanding its warehousing facilities with acquisitions in India and overseas to become a $1-billion leading third party logistics player.

In this fiscal the company has earmarked Rs 200 crore for expansion and it currently operates three container freight stations in Mundra, Chennai and Mumbai. By 2013-14, the company is targeting a turnover of Rs 5,000 crore. It recently bought two small bulk ships to enter into coastal shipping with an investment of Rs 35 crore. With power plants likely to be set up at various locations, the company intends to capture that market too.

Allcargo has been aggressively expanding its operations abroad and recently purchased controlling stake in two Hong Kong-based companies. It also increased stake in its subsidiaries in the UK and Argentina. From the current levels of around 1,00,000 sq ft, the company aims to expand its warehousing space to 4,00,000 sq ft by 2012 with an investment of Rs 40 crore. It has warehouses in Goa and Mumbai and is planning to build new facilities in Indore, Nagpur and Hosur. The company also plans to expand its inland container deposits through various acquisitions in the coming months.

Allcargo Global Logistics offers direct outbound and inbound LCL group age services to and from over 4,000 major cargo destinations worldwide. It provides a gamut of services through a direct and active presence in LCL consolidation, CFS/ICDs, project logistics, equipment hiring & transportation and warehousing.

Allcargo Logistics Share Price

9.58 -0.07 (-0.73%)
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