Welspun One to invest Rs 700 crore to develop 1.2-million-sq-ft logistic hub in Navi Mumbai
Welspun One, an integrated fund and development management platform, will be investing 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.
For this, Welspun One has entered into a strategic collaboration with JNPA to jointly develop this project. The investment includes both land as well as construction cost.
This marks the second deployment from Welspun Ones’ latest alternative investment fund that has a total corpus of Rs 2,000 crore.
This project will be financed through a mix of debt and equity.
“By empowering businesses and fostering employment, we are driven to generate significant regional and economic influence. The JNPA project is a declaration of our commitment to industrial excellence and the future of India's industrial framework,” Balkrishan Goenka, Chairman, Welspun World.
This development follows Welspun One's recent strategic land acquisition in Thane, near Mumbai.
The Thane development, a logistics-anchored mixed-use project, is currently underway to create 1 million sq ft of advanced last mile warehousing facilities.
“This partnership propels us into the future, bolstering our presence in key trade hubs and delivering comprehensive supply chain solutions. We are determined to redefine India’s industrial framework by offering sophisticated solutions that meet today's business needs,” said Anshul Singhal, Managing Director, Welspun One.
This investment in the JNPA-SEZ strategically positions Welspun One in proximity to the JNPA Port, which handles 30-35% of India's total containerized cargo volume.
The location of the proposed logistic hub is well-connected to national
