Allcargo Terminals Ltd Expands South Indian Market Presence Through MOU with Kences Container Terminal Limited

Allcargo Terminals Ltd has signed a Memorandum of Understanding (MOU) with Kences Container Terminal Limited (KCTL) to operate a KCTL container freight station at Chennai. This capacity addition aligns with the company's asset light philosophy and will increase its presence and market share in the South Indian market. The existing capacity is 0.96 million TEUs per annum with 87% utilization as of May 2024. The proposed capacity addition is approximately 0.06 million per annum TEUs, which can be increased to 0.12 million per annum TEUs. The detailed project plan, including the investment required and period within which the proposed capacity is to be added, is yet to be finalised.