Allcargo Terminals Limited — Important, 06-12-2024: Agreements

Allcargo Terminals Limited has executed a lease agreement for a land parcel of approximately 22 acres in Village Khopta, Uran Raigad, Maharashtra, aimed at expanding its container handling, warehousing, and related operations at JNPT.

The lease is set for a duration of 30 years, commencing on April 2, 2025, with a monthly lease rent of INR 87,12,000, subject to a 15% escalation every three years. Additionally, an interest-free refundable security deposit of INR 4,40,00,000 will be provided. This expansion reflects the company's strategy to enhance its operational capacity and competitiveness in the logistics sector. Investors should watch closely as this development could lead to increased revenue generation and strengthen the company’s market position.