Welspun One, a portfolio management and development company, will invest over Rs 700 crore to develop 55 hectares of industrial and office space in the Jawaharlal Nehru Special Economic Zone (SEZ). The Port Authority (JNPA) in Navi Mumbai.
To this end, Welspun One has entered into a strategic partnership with JNPA to jointly develop this project. The investment includes land costs and construction costs.
This is the second allocation of Welspun One's new investment fund with an amount of Rs 2,000 crore. The project is financed through a combination 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.
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