Welspun One has announced a substantial investment exceeding Rs 700 crore for the establishment of a cutting-edge industrial and logistics hub. Spanning an expansive 55 acre, this transformative project will be situated within the confines of the Jawaharlal Nehru Port Authority (JNPA) Special Economic Zone (SEZ) in Navi Mumbai.
In a strategic collaboration with JNPA, Welspun One aims to fortify its presence in the vicinity of the JNPA Port, a critical hub responsible for handling 30-35 per cent of India’s total containerized cargo volume. The proposed logistics hub, strategically positioned for optimal connectivity to national highways, railways, and airports, is set to provide a gamut of benefits, including duty and tax exemptions, zero GST, and more.
This significant investment, covering both land and construction costs, marks the second deployment from Welspun One’s latest alternative investment fund, boasting a substantial corpus of Rs 2,000 crore. The project’s financial backing will be facilitated through a judicious blend of debt and equity.
Undoubtedly, this move by Welspun One is poised to enhance the development of key trade hubs, offering comprehensive supply chain solutions within an industrial framework. The company is committed to delivering sophisticated solutions tailored to evolving business needs. This strategic initiative follows Welspun One’s recent acquisition of land in Thane, near Mumbai, where it is actively engaged in the development of a logistics-anchored mixed-use project, encompassing one million sqft of advanced last-mile warehousing facilities.
Looking ahead, Welspun One envisions building an impressive portfolio, targeting 16-18 million sqft over the next four to five years. These facilities, strategically located in tier-I and -II cities, represent an ambitious investment outlay exceeding Rs 8,000 crore, potentially propelling the company’s assets under management to an impressive US$ one billion milestone.
In a noteworthy achievement in 2021, Welspun One had successfully raised its first Alternative Investment Fund (AIF) amounting to Rs 500 crore from domestic investors. This fund, fully committed within approximately 1.5 years from its initial closure, was allocated across six investments, aggregating nearly 6.5 million sqft of real estate.