Mumbai-based Allcargo Terminals, which is in the process of raising Rs 500 crore, will invest Rs 115 crore in developing a multimodal logistics park in Farrukhnagar, Haryana, said managing director Suresh Kumar R.
“Over phases, we will raise funds through various methods and be ready to invest at the right time,” he said.
The logistics park is being developed in partnership with the Haryana Orbital Rail Corporation (HORCL), part of the Rs 6,000 crore initiative led by Haryana Rail Infrastructure Development Corporation. Allcargo Terminals had acquired a 7.6% stake in HORCL. “The total investment will be based on the operating model we finalise. We have invested in the HORCL equity and are committed to another Rs 23 crore while balance investments for land access, private freight terminal and inland container depot are in advanced stages of finalisation,” said the executive.
HORCL, a joint venture between the Haryana government and the Union railways ministry, is spearheading the Haryana Orbital Rail Corridor, a 135-km railway line bypassing Delhi.
The project will link major industrial and warehousing hubs such as Palwal and Sonipat, diverting goods traffic away from Delhi to reduce congestion and drive Haryana’s economic growth.
“NCR (National Capital Region) and the adjacent states contribute a lot to the Indian economy. And we believe this investment will help us contribute to the accelerated growth of north India,” said Kumar R. “This investment will enhance our capability to develop multimodal logistics parks and inland container depots in the northern India market.” Set to be completed by December 2027, the HORC project will enhance freight connectivity, provide direct links to the Dedicated Freight Corridor and foster the development of new industrial zones along Haryana’s western periphery.
