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Allcargo, CCI form supply chain JV; eye Rs 1k cr biz by 2020

Mumbai, Aug 25 (PTI) Eyeing opportunity in the contract logistics space post-GST, Allcargo Logistics today said it has demerged its supply chain management and freight forwarding businesses to form a joint venture with chemical warehousing company CCI.
 
The JV called Avashya CCI Logistics, is targeting a revenue of Rs 1,000 crore by 2020 from the present Rs 450 crore, Allcargo Chairman Shashikiran Shetty said.
 
In 2015-16, the contract logistics and freight forwarding verticals contributed around Rs 300 crore to the company's total revenue of Rs 5,800 crore, Shetty said.
 
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