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Private Sector | Maharashtra - India | PID: 202182
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Welspun One will invest over Rs 700 crore to develop an industrial and logistics hub spread across 55 acres within the Jawaharlal Nehru Port Authority (JNPA) Special Economic Zone (SEZ) in Navi Mumbai. The integrated fund and development management platform entered into a strategic collaboration with JNPA to jointly develop this project. The investment includes both land as well as construction cost
Welspun One will leverage proximity to the JNPA Port, which handles 30-35 percent of India's total containerized cargo volume. The proposed logistic hub is well-connected to national highways, railways, and airports, offering duty and tax exemptions, zero GST, and other benefits. This marks the second deployment from Welspun Ones’ latest alternative investment fund (AIF) which has a total corpus of Rs 2,000 crore. The project will be financed through a mix of debt and equity
The move will bolster setting up of key trade hubs and delivering comprehensive supply chain solutions, within the industrial framework by offering sophisticated solutions for evolving business needs. This development follows Welspun One's recent strategic land acquisition in Thane, near Mumbai for a logistics-anchored mixed-use project, which is currently underway to create one million sq. ft. of advanced last-mile warehousing facilities
The company has plans to build an aggregate portfolio of 16-18 million sq. ft. over the next four to five years across first and last-mile facilities in tier-I and -II cities. It involves an overall investment outlay of over Rs 8,000 crore which can take the assets under management to USD one billion
WOLP had raised its first AIF worth Rs 500 crore through domestic investors. This fund committed the entire corpus across six investments aggregating to nearly 6.5 million sq. ft. within around 1.5 years from its first close
| Updated on: 21 - Dec - 2023
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