Welspun One secures ₹2,300 cr for JNPA logistics park project

Welspun One Logistics Parks (Welspun One) has announced the successful financial closure of its flagship logistics park project at the Jawaharlal Nehru Port Authority (JNPA). The National Bank for Financing Infrastructure and Development (NaBFID) has committed approximately ₹2,300 crore in construction financing, underscoring the project’s strong potential and reaffirming Welspun One’s credibility in the logistics sector, according to an official release by Welspun One.

The JNPA logistics park, spread across 55 acres, marks Welspun One's largest logistics development in India. Strategically situated within the JNPA Special Economic Zone (SEZ) in Navi Mumbai, this cutting-edge, Grade A industrial and warehousing facility is tailored to serve key sectors, including e-commerce, 3PL, FMCG, and manufacturing. With a total development potential exceeding 3.6 million square feet, the park is poised to enhance supply chain efficiency and bolster India’s logistics infrastructure, the release added.

“The financial closure of our JNPA project marks a pivotal step in our journey to create world-class logistics and industrial infrastructure in India. This park will set new benchmarks in efficiency and scalability, supporting India’s growing demand for high-quality warehousing solutions. With NaBFID’s support, we are positioned to accelerate execution while continuing to drive long-term value for our stakeholders,” says Anshul Singhal, Co-founder and Managing Director, Welspun One.

The funding for the JNPA project marks a key step in its timely rollout. This partnership between Welspun One and NaBFID underlines a joint commitment to boosting India’s logistics sector and delivering top-grade warehousing facilities, mentions the release.

“We are delighted to partner with Welspun One’s Logistics Park in JNPA. 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,” says Rajkiran Rai, Managing Director, NaBFID.

“NaBFID 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 area and is being built to international standards,” states Samuel Joseph, DMD, NaBFID.