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Allcargo Logistics will be investing up to Rs 170 crore during this fiscal for purchase of land for a logistics park on the outskirts of Delhi and a container freight station (CFS) in Kolkata.
Shashikiran Shetty, the Chairman has said that the company has announced a target to almost triple its revenue to USD 2 billion by 2020, the company that primarily serves the exim trade, now has been looking to enter the domestic space with businesses like express delivery.
He further said that “We will be investing Rs 170 crore this fiscal year, which will include Rs 100 crore for the land at Jhajjar in Haryana on the Delhi border for the logistics park, Rs 40 crore for a CFS in Kolkata and Rs 30 crore for the projects and equipment business.”
