Welspun One would construct an industrial and logistics complex in JNPA worth Rs 700 crore

 Welspun One would construct an industrial and logistics complex in JNPA worth Rs 700 crore

According to the firm, this is the second deployment of Welspun One's most recent Fund 2, an alternative investment fund worth Rs 2,000 crore.

The business claims that by using their combined strengths to create industrial and warehouse infrastructure that is fit for the future, JNPA, acting as developer, and Welspun One, acting as co-developer, are embarking on a promising collaboration with this investment. A strategic partnership exists.

Welspun One, a major in warehousing and industrial real estate, stated on December 20 that it will spend Rs 700 crore to construct an industrial and logistics center close to Mumbai.

The 1.2 million square foot hub will be built on 55 acres in the Jawaharlal Nehru Port Authority (JNPA) Special Economic Zone (SEZ).

According to the business, this is the second deployment of Welspun One's most recent fund, the Rs 2,000 crore Alternative Investment Fund (AIF).

Welspun World Chairman Balkrishna Goenka said, "The JNPA project is a declaration of our commitment to industrial excellence and the future of India's industrial infrastructure."

The project has a combination of stock and loan financing. According to a statement from the firm, it will generate a number of employment over the course of three years, greatly advancing India's socioeconomic growth and aligning with Welspun One's overarching objectives of industry leadership and socioeconomic advancement.

With the goal of using synergy to create industrial and warehouse infrastructure that is ready for the future, JNPA (the developer) and Welspun One (the co-developer) embarked on a promising cooperation with this investment.

Welspun One is now located close to JNPA Port, which handles thirty to thirty-five percent of India's container freight volumes, thanks to the investment.

According to the corporation, the site offers duty and tax exemptions, 0% GST, single-window clearance, and operational flexibility, all of which contribute to improving the whole logistics value chain. It is also well-connected by road, rail, and air.

In September, the business said that it will spend Rs 600 crore in a mixed-use warehouse building located in the Thane area of the Mumbai Metropolitan Region (MMR).

On a 3.25-acre site, it intends to construct a building with a built-up size of 6 lakh square feet. Warehousing and logistics firms that operate in the cold storage, pharmaceutical, grocery, and e-commerce sectors would be the tenants of this space.