Welspun One, a leading fund & development management platform, on Wednesday, December 20, announced setting up an industrial and logistics hub in Navi Mumbai, worth an estimated investment of INR 700 Crore. This facility will be developed in the JNPA SEZ (Jawaharlal Nehru Port Authority Special Economic Zone).
The proposed project will occupy an anticipated 55 Acres of land parcel with a construction area of 1.2 Mn SqFt. It will be set up as a joint venture between Welspun One and JNPA. The company plans to fund this project with a mix of debt and equity.
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This investment is the second deployment from Welspun One’s latest Fund 2, which is an INR 2,000 Crore Alternative Investment Fund, the company said in a statement. Additionally, Welspun One recently announced acquiring land in Thane in MMR (Mumbai Metropolitan Region) to develop a logistics-anchored mixed-use project, creating a 1 Mn SqFt of advanced ‘last mile’ warehousing facilities.
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