Published On:January 14 2020
Story Viewed 226 Times

Blackstone to invest Rs. 380 cr in Allcargo’s industrial and logistics parks.

Blackstone to invest Rs. 380 cr in Allcargo’s industrial and logistics parks.

Private equity firm Blackstone will invest as much as Rs. 380 crore in Allcargo Logistics to develop industrial and logistics parks across India.

Blackstone’s investment in the platform will be through debt and equity, Allcargo said in a statement.

Allcargo will retain a minority stake in various logistics assets and transfer its debt as it relates to these specific assets to their relevant subsidiaries, it said.

The transaction is expected to conclude in a phase wise manner over the next 12 months, subject to satisfaction of customary closing conditions and achievement of certain milestones.

“The Indian warehousing sector is scaling an expansionary curve backed by a robust regulatory environment and government thrust in boosting manufacturing, e-commerce and organised retail. This sector has emerged as an attractive investment destination for global investors. Through this strategic tie-up, we reiterate our commitment and positioning to create a global benchmark in warehousing infrastructure and provide state-of-the-art warehousing solutions to our customers,” Shashi Kiran Shetty, Chairman, Allcargo Logistics Ltd., said.

Allcargo has completed and ongoing projects in advanced stage of developments for 6 million square feet of Grade A logistics parks across the National Capital Region (NCR) Delhi, Bengaluru, Hyderabad, Ahmedabad, Pune, JNPT in MMR (Mumbai), Hosur and Goa. About 80% of the company’s warehousing portfolio is pre-leased of which close to 1.5 million square feet is already income producing. The company further has projects in the planning stage for another 3 million square feet.

This partnership will help Allcargo’s growing 3 PL (third party logistics) business and enable MNCs and Indian companies access to its world-class warehousing assets.

HBL





OUR OTHER PRODUCTS & SERVICES: Projects Database | Tenders Database | About Us | Contact Us | Terms of Use | Advertise with Us | Privacy Policy | Disclaimer | Feedback

This site is best viewed with a resolution of 1024x768 (or higher) and supports Microsoft Internet Explorer 4.0 (or higher)
Copyright © 2016-2020

Technology Partner  aaRKayeN Solutions