At an investment of Rs 2,700 crore, Welspun One, an integrated fund and development management platform, announced the opening of the largest single-location Grade A warehouse and industrial park in the nation at the JNPA Special Economic Zone in Navi Mumbai.
According to a statement from Welspun One, the facility, which is a part of the strategic partnership between Welspun One and Jawaharlal Nehru Port Authority (JNPA), has an annual throughput capacity of 36,000 TEUs and can accommodate over 400,000 pallet positions in addition to parking for over 600 trucks.
The 55-acre integrated logistics ecosystem project is anticipated to create direct and indirect jobs for more than 5,000 people, bolstering the local economy and serving as more than just a logistics center.
The largest container port by throughput is JNPA, which handles about 35 percent of India's maritime cargo.
In order to meet the increasing export-import demand at the JNPA Port, the company has now expanded the project's size to approximately 4.45 million square feet of built-up area, which includes 3.95 million square feet of warehousing space, 0.25 million square feet of Grade A office space, and 0.25 million square feet of industrial space.
Given the region's historical limitations with regard to integrated facility solutions, this ideal position offers the SEZ/FTWZ segment an unparalleled opportunity to grow.
"Our recent equity fundraising for Fund 2 of Rs 2,275 crore (including Rs 275 crore in co-investment commitments) underlines investors' faith in our approach to developing demand-driven, logistics-anchored enterprises. We are executing at a size and speed that distinguishes us, with approximately 70% of the investment already committed and 45% pulled down," stated Balkrishan Goenka, Chairman, Welspun World.
The storage and industrial project at JNPA SEZ is a critical component of Welspun One's strategy to fit with India's economic story and reimagine its logistics infrastructure, he said.
The facility is strategically placed within 5 kilometers of the port terminals and has direct vessel access, which provides various advantages. It also has access to vital transportation networks such as National Highways, the Dedicated Freight Corridor (West), the Mumbai Trans Harbour Link (MTHL), and the planned Navi Mumbai Airport, providing it a considerable logistical edge, according to the platform.
Furthermore, as part of a recognized SEZ, occupiers receive additional benefits such as GST exemption, customs tax deferment, faster customs clearance, and reduced detention or demurrage risks, according to Wespun One.
All of this allows for the seamless movement of goods and optimized inventory management, resulting in improved operational efficiency and significant cost savings of up to 15%, while also improving the port's logistical efficiency, making the project an ideal hub for international businesses looking to optimize their supply chains, according to the statement.
"India's port ecosystem has long required a logistics solution that extends beyond storage.This facility is expected to be a game changer for logistics and supply-chain activities in India, elevating India's standing in global commerce and ease of doing business," stated Anshul Singhal, Managing Director of Welspun One.
