Welspun One said on Wednesday said it will develop an industrial and logistics hub at the Jawaharlal Nehru Port's Special Economic Zone with an investment of around Rs 700 crore.
This investment is the second deployment from Welspun Ones' latest Fund 2, which is a Rs 2,000-crore Alternative Investment Fund, the company said in a statement.
The development of a 1.2-million square feet industrial and logistics hub spread across 55 acres at JNPA SEZ signifies a paradigm shift in India's infrastructure sector, Welspun One said.
The total investment of Rs 700 crore includes land as well as construction cost and the project will be financed through a mix of debt and equity, it said.
According to the statement, this strategic collaboration is the beginning of a partnership between JNPA (developer) and Welspun One (as co-developer), leveraging synergies to build future-ready industrial and warehousing infrastructure.
"We have partnered with Jawaharlal Nehru Port Authority (JNPA) as co-developers in the SEZ. This partnership propels us into the future, bolstering our presence in key trade hubs and delivering comprehensive supply chain solutions," said Anshul Singhal, Managing Director, Welspun One.
This announcement follows Welspun One's recent strategic land acquisition in Thane in the Mumbai Metropolitan Region for a logistics-anchored mixed-use project, which is currently underway to create 1 million sq ft of advanced 'last mile' warehousing facilities.