Allcargo Terminals Ltd Approves Rupee Term Loan of Rs 140 Crores, to Acquire 7.60% Stake in Haryana Orbital Rail Corporation Limited

Allcargo Terminals Ltd, a leading operator in Container Depots (ICD), has approved the acquisition of 9,12,00,000 Equity Shares (7.60%) of Haryana Orbital Rail Corporation Limited (HORCL) from its promoter group, Allcargo Logistics Limited. The acquisition is part of the Company's strategic growth plan to develop and operate the rail connected ICD facility at Jhajjar, ensuring rail connectivity for ICD to Dedicated Freight Corridor (DFC) through Haryana Orbital Rail Corridor (HORC). The Company has also approved borrowing of Rupee Term Loan amounting up to Rs 140 Crores from Aseem Infrastructure Finance Limited. The acquisition is expected to be completed within 90 days, subject to necessary approvals.