ALLCARGO TERMINALS GETS EXTENSION FROM JNPT

Jawaharlal Nehru Port Authority (JNPT) has approved a 10-year extension for

to operate the Speedy Multimodes CFS after the expiry of it's original 20-year tenure which began on 1 Jan 2006 and ended on 31 Dec 2025. The 53-acre, 34616-square-metre facility, located just 6 km from JN Port, has a capacity of 120,000 TEUs and remains the closest regulated CFS. The company had acquired 85% stake for Rs 102 crore in the year 2019 and the remaining 15% in Jan25. The company now operates seven CFS/ICDs with 800,000 TEUs capacity, expanded it's second JN Port CFS to 360,000 TEUs from 190,000, added 25% warehousing, and supports JNPA’s 10-million-TEU goal by 2027. The company has reported 3-year sales growth & profit growth of 81% CAGR and 116% CAGR respectively. With the exxtension of this CFS, the company is set to increase it's revenue and profits in the coming quarters.