Welspun One to invest Rs 7 billion to develop logistic hub in Navi Mumbai

Welspun One, an integrated fund and development management platform, has decided to invest over Rs 7 billion to develop an industrial and logistics hub spread across 55 acres within the Jawaharlal Nehru Port Authority special economic zone in Navi Mumbai. The project is being financed through a mix of debt and equity. Over the next four to five years, the company aims to build a portfolio of 16-18 million square feet of first- and last-mile facilities in Tier I and Tier II cities. The strategy comprises an overall investment outlay of over Rs 80 billion.