Allcargo to invest Rs.170 cr to expand domestic business
The Dollar Business Bureau Allcargo Logistics, a leading integrated logistics solutions company, will invest around Rs.170 crore in the current financial year for purchasing land to set up a logistics park on New Delhi’s outskirts and a container freight station (CFS) in Kolkata, according to a company’s top official.After announcing a target to nearly increase its revenue three-fold to $2 billion by 2020, Allcargo Logistics, which mainly serves the export-import trade till now, is looking to set its foot in the domestic market with businesses such as express delivery, Shashikiran Shetty, Chairman of the company told to PTI.He also gave a hint that the company will follow acquisitions strategy for domestic play. “We will be investing Rs.170 crore this fiscal year, which ...
Indian-owned shipping firm rebrands itself
PTI An Indian-owned shipping firm has rebranded itself as an integrated service provider in a bid to change the perception of the company from offering end-to-end and value-added services. The rebranding of ECU-LINE to ECU Worldwide was launched on Monday, eyeing the group revenue target of USD 2 billion by 2020, with an aim to change the perception of the company from being just a shipping line player to an integrated logistics solution provider, company officials have said here. "We are executing a number of product strategies as part of our growth plan to be a USD 2 billion revenue generating group with global group by 2020," said Uday Shetty, ECU Worldwide's Chief Executive for Asia Pacific and Japan. "The ...
