Warehousing and industrial real-estate sector player Welspun One on December 20 announced a Rs 700-crore investment to build an industrial and logistics hub near Mumbai.
The 1.2-million square feet hub, which will come up in the Jawaharlal Nehru Port Authority (JNPA)- Special Economic Zone (SEZ), will be spread across 55 acres.
This marks the second deployment from Welspun Ones’ latest Fund 2, a Rs 2,000- crore Alternative Investment Fund (AIF), the company said.
"The JNPA project is a declaration of our commitment to industrial excellence and the future of India's industrial framework," Welspun World Chairman Balkrishan Goenka said.
The project is financed through a mix of debt and equity. Over a period of three years, it would create many jobs, contributing significantly to the India’s socio-economic development, aligning with Welspun One's broader goals of industry leadership and socio-economic progress, the company statement said.
The investment was a strategic collaboration, marking the beginning of a promising partnership between JNPA (developer) and Welspun One (co-developer) by leveraging synergies to build future-ready industrial and warehousing infrastructure.
This investment positions Welspun One in close proximity to the JNPA Port, which handles 30-35 percent of India's container cargo volume.
The location is well-connected by road, rail and air, offering duty and tax exemptions, zero GST, single-window clearances, and operational flexibility, enhancing the overall logistics value chain, the company said.
The company in September announced it was investing Rs 600 crore on a warehousing anchored mixed-use development in the Thane section of the Mumbai Metropolitan Region (MMR).
It plans to construct 6 lakh sqft (built-up area) on a 3.25 acre plot and lease it to warehousing and logistics companies operating in the e-commerce, rapid delivery, grocery, pharmaceutical and cold storage domains.
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