Allcargo Plans Haryana Logistics Park

26 Nov 2024 CW Team

Allcargo Terminals has already acquired a 7.6% equity stake in HORCL and committed an additional Rs 23 crore. The remaining investments, covering land access, a private freight terminal, and an inland container depot, are nearing finalisation. Kumar highlighted that this project aligns with Allcargo’s strategy to enhance its capabilities in multimodal logistics parks and inland container depots in northern India.

The HORC project, a 135-km rail line bypassing Delhi, aims to link industrial and warehousing hubs like Palwal and Sonipat, diverting goods traffic from Delhi to reduce congestion and foster economic growth in Haryana. The corridor will also provide direct connections to the Dedicated Freight Corridor, a major boost for freight logistics.

Set for completion by December 2027, the project is expected to drive industrial development along Haryana's western periphery and enhance freight connectivity across the National Capital Region (NCR) and beyond. Kumar noted that this investment reinforces Allcargo's commitment to accelerating growth in north India, leveraging the region’s significant contribution to the national economy.

This development not only strengthens Allcargo's foothold in the logistics sector but also contributes to Haryana's infrastructure growth, fostering economic activity and improving the region’s industrial transport efficiency.

Allcargo Terminals, a Mumbai-based logistics company, plans to invest Rs 115 crore in developing a multimodal logistics park in Farrukhnagar, Haryana. This initiative is part of a larger Rs 500 crore fundraising strategy, as stated by Managing Director Suresh Kumar R. The logistics park is being developed in collaboration with the Haryana Orbital Rail Corporation (HORCL), a joint venture under the Rs 6,000 crore Haryana Rail Infrastructure Development Corporation-led Haryana Orbital Rail Corridor (HORC) project. Allcargo Terminals has already acquired a 7.6% equity stake in HORCL and committed an additional Rs 23 crore. The remaining investments, covering land access, a private freight terminal, and an inland container depot, are nearing finalisation. Kumar highlighted that this project aligns with Allcargo’s strategy to enhance its capabilities in multimodal logistics parks and inland container depots in northern India. The HORC project, a 135-km rail line bypassing Delhi, aims to link industrial and warehousing hubs like Palwal and Sonipat, diverting goods traffic from Delhi to reduce congestion and foster economic growth in Haryana. The corridor will also provide direct connections to the Dedicated Freight Corridor, a major boost for freight logistics. Set for completion by December 2027, the project is expected to drive industrial development along Haryana's western periphery and enhance freight connectivity across the National Capital Region (NCR) and beyond. Kumar noted that this investment reinforces Allcargo's commitment to accelerating growth in north India, leveraging the region’s significant contribution to the national economy. This development not only strengthens Allcargo's foothold in the logistics sector but also contributes to Haryana's infrastructure growth, fostering economic activity and improving the region’s industrial transport efficiency.

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