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Wednesday, July 24, 2024

Welspun One to Invest Rs 700 Crore in Industrial and Logistics Hub at JNPA

Welspun One, a key player in the warehousing and industrial real estate sector, revealed plans on December 20 to invest Rs 700 crore in constructing an expansive industrial and logistics hub near Mumbai. Spanning 55 acres within the Jawaharlal Nehru Port Authority (JNPA) Special Economic Zone (SEZ), the 1.2-million square feet hub represents the second deployment from Welspun One’s latest Fund 2, a Rs 2,000-crore Alternative Investment Fund (AIF).

Balkrishan Goenka, Chairman of Welspun World, affirmed that the JNPA project underscores their dedication to industrial excellence and India’s future industrial framework. Financed through a combination of debt and equity, the project aims to generate numerous jobs over three years, significantly contributing to India’s socio-economic development in line with Welspun One’s broader goals.

This strategic collaboration between JNPA (developer) and Welspun One (co-developer) marks the initiation of a promising partnership, leveraging synergies to establish forward-looking industrial and warehousing infrastructure. The investment strategically situates Welspun One near the JNPA Port, handling a substantial portion of India’s container cargo volume. The location’s connectivity by road, rail, and air, coupled with incentives such as duty exemptions, zero GST, single-window clearances, and operational flexibility, enhances the overall logistics value chain.

In September, Welspun One had already announced a Rs 600 crore investment in a warehousing anchored mixed-use development in the Thane section of the Mumbai Metropolitan Region (MMR). The plan involves constructing 6 lakh sqft of built-up area on a 3.25-acre plot for leasing to warehousing and logistics companies operating in various domains, including e-commerce, rapid delivery, grocery, pharmaceuticals, and cold storage.

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