Allcargo Logistics will build warehouses and sell or lease them out as it aims to monetise its dormant land bank
Allcargo LogisticsNSE 1.72 % will build warehouses and sell or lease them out as it aims to monetise its dormant land bank, take advantage of the growing need of bigger, more efficient logistics facilities in the country and exploit lower lending rates in setting up such infrastructure.
The company is in talks with two global companies to sell an up to 25% stake in this new venture, Allcargo Logistics and Industrial Park, chairman Shashi Kiran Shetty told ET in an interview. The initial agreement will be signed within two months, he added.
The company aims to invest Rs 3,000 crore in the next 4-5 years in setting up 15 million square feet of warehousing space. That will include inland container depots, private freight terminals apart from build-to-suit warehouses, customised to the needs of customers that buy or lease the facilities.