Allcargo to Invest ₹115 Crore in Logistics Park in Haryana.

Mumbai-based Allcargo Terminals, which is in the process of raising ₹500 crore, has announced an investment of ₹115 crore to develop a multimodal logistics park in Farrukhnagar, Haryana. Managing Director Suresh Kumar R. stated, "We will raise funds in phases through various methods and invest at the right time."

The logistics park is being developed in partnership with Haryana Orbital Rail Corporation (HORCL), a part of the ₹6,000 crore initiative led by Haryana Rail Infrastructure Development Corporation. Allcargo Terminals has acquired a 7.6% stake in HORCL. Kumar R. added, "The total investment will depend on the operating model we finalize. In addition to our investment in HORCL equity, we are committed to another ₹23 crore, while finalizing the remaining investments for land access, private freight terminal, and inland container depot."

HORCL, a joint venture between the Haryana government and the Union Ministry of Railways, is leading the development of the Haryana Orbital Rail Corridor (HORC), a 135-km railway line designed to bypass Delhi. This corridor aims to link major industrial hubs such as Palwal and Sonipat, diverting goods traffic away from Delhi to alleviate congestion and boost Haryana's economic growth.

Kumar R. emphasized, "The National Capital Region (NCR) and surrounding states contribute significantly to India's economy. This investment will accelerate growth in North India and enhance our ability to develop multimodal logistics parks and inland container depots in the region." The HORC project, set for completion by December 2027, will improve freight connectivity, provide direct links to the Dedicated Freight Corridor, and support the development of new industrial zones along Haryana's western periphery.

ET