Welspun One gets construction loan worth Rs 2.3K crore from Nabfid

Welspun One Logistics Parks (Welspun One) on Sunday announced the financial closure of its logistics park project at Jawaharlal Nehru Port Authority (JNPA) with a construction financing of ₹2,300 crore underwritten by the National Bank for Financing Infrastructure and Development (Nabfid). 

The JNPA logistics park, spanning 55 acres, is Welspun One’s largest logistics development in India. The logistics park is located within the JNPA Special Economic Zone in Navi Mumbai. The grade A industrial and warehousing facility will cater to e-commerce, 3PL, FMCG, and manufacturing sectors.  

The logistics park’s total development potential is over 3.6 million square feet. 

Anshul Singhal, co-founder and managing director, Welspun One, said: “The financial closure of our JNPA project marks a pivotal step in our journey to create world-class logistics and industrial infrastructure.” 

 

Rajkiran Rai, managing director of Nabfid said: “We are delighted to partner with Welspun One’s Logistics Park in JNPA. The 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 per cent of GDP, in order to promote competitiveness of Indian industry.”