Integrated fund and development management platform Welspun One Logistics Parks has secured funds worth ₹2,300 crore from National Bank for Financing Infrastructure and Development ( NaBFID) for its logistics park project at Jawaharlal Nehru Port Authority (JNPA) in Navi Mumbai.
This is the maiden warehousing-related financing made by NaBFID, established by the government under the NaBFID Act, 2021, serving as a specialised development finance institution aimed at supporting the country's infrastructure sector.
This is also the largest funding by any institution in India for warehousing till date.
With this underwriting of construction finance by NaBFID, the platform focused on logistics and industrial real estate has achieved financial closure of its project spanning over 55 acres.
This is Welspun One's largest logistics development in India. With a total development potential of over 3.6 million sq ft, the park will cater to e-commerce, third-party logistics (3PL), fast-moving consumer goods (FMCG) and manufacturing sectors. "The financial closure of our JNPA project marks a pivotal step in our journey to create world-class logistics and industrial infrastructure in India. With NaBFID's support, we are positioned to accelerate execution while continuing to drive long-term value for our stakeholders," said Anshul Singhal, co-founder and managing director, Welspun One.
According to him, securing this funding ensures the timely execution of the JNPA project, reinforcing Welspun One's commitment to large-scale infrastructure development. "State-of-the-art facilities such as this one are a part of the government's plan to reduce logistics cost to the global average of 8% of GDP, in order to promote competitiveness of Indian industry," said Rajkiran Rai, managing director, NaBFID.
According to Samuel Joseph, deputy MD of NaBFID, the development finance institution is naturally suited to finance such projects with a long implementation period, requiring an extended repayment schedule. "We have extended a 22-year term loan for this project. While we have financed other warehousing projects, this project is unique as it comes up in a SEZ (special economic zone) area, and is being built to international standards," Joseph said.
This is the maiden warehousing-related financing made by NaBFID, established by the government under the NaBFID Act, 2021, serving as a specialised development finance institution aimed at supporting the country's infrastructure sector.
This is also the largest funding by any institution in India for warehousing till date.
With this underwriting of construction finance by NaBFID, the platform focused on logistics and industrial real estate has achieved financial closure of its project spanning over 55 acres.
This is Welspun One's largest logistics development in India. With a total development potential of over 3.6 million sq ft, the park will cater to e-commerce, third-party logistics (3PL), fast-moving consumer goods (FMCG) and manufacturing sectors. "The financial closure of our JNPA project marks a pivotal step in our journey to create world-class logistics and industrial infrastructure in India. With NaBFID's support, we are positioned to accelerate execution while continuing to drive long-term value for our stakeholders," said Anshul Singhal, co-founder and managing director, Welspun One.
According to him, securing this funding ensures the timely execution of the JNPA project, reinforcing Welspun One's commitment to large-scale infrastructure development. "State-of-the-art facilities such as this one are a part of the government's plan to reduce logistics cost to the global average of 8% of GDP, in order to promote competitiveness of Indian industry," said Rajkiran Rai, managing director, NaBFID.
According to Samuel Joseph, deputy MD of NaBFID, the development finance institution is naturally suited to finance such projects with a long implementation period, requiring an extended repayment schedule. "We have extended a 22-year term loan for this project. While we have financed other warehousing projects, this project is unique as it comes up in a SEZ (special economic zone) area, and is being built to international standards," Joseph said.
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