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Allcargo partners with Blackstone to develop logistics parks


Allcargo Logistics Ltd, India’s largest integrated, end-to-end logistics services provider, has partnered with the global private equity investor, the Blackstone Group (Blackstone) (NYSE:BX), to develop logistics parks in key consumption hubs in India. 


Blackstone will invest up to Rs 380 crore in Allcargo Logistics to develop industrial and logistics parks across India. Blackstone proposes to make its investment in the platform by way of debt and equity, informed a release. 


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


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,” said Mr Shashi Kiran Shetty, Chairman, Allcargo Logistics Ltd. 


Allcargo has completed and ongoing projects in advanced stage of development 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 per cent 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 3PL (third-party logistics) business and enable MNCs and Indian companies access to its world class warehousing assets, the release highlighted. 

 

Source : Exim News Service - Mumbai, Jan. 13

 

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