On Thursday, Allcargo group announced consolidation of its contract logistics business into new model.The Avvashya CCI Logistics Private Limited is the joint venture pf three business entities: warehousing division of Contract Logistics Division of Allcargo Logistics , CCI Logistics Ltd and Hindustan Cargo Ltd.
The Allcargo group will hold 62% and CCI promoters will hold 38% share in the company respectively.
Allcargo’s Logistics group will offer services to companies in sectors like engineering, e-commerce, fashion , automobile & retail since last few years. The board of Avvashya CCI Logistics Private Limited would be headed by the Shashi Kiran Shetty as chairman and Naresh Sharma as Managing Director.
The combined entity will have over 1.5 million squre feet of operating warehousing space across more than 20 locations in India.