TVS ILP invests ₹125 crore into upcoming Cuttack warehousing facility
The upcoming facility, with its presence at a strategic location at the confluence of the Mumbai and Chennai-Kolkata highways (off NH 55), enjoys excellent connectivity to the Paradip port and the major parts of the country.
Manikandan Ramachandran, COO, TVS ILP breaks ground for upcoming warehousing facility in Cuttack.
TVS Industrial & Logistics Parks (TVS ILP), a part of TVS Mobility Group, recently broke ground for a new state-of-art warehouse in Cuttack, Odisha that spans 24 acres of land, housing two large warehouses totalling 5 lakh square feet, catering sectors like FMCG, FMCD, 3PL, and e-commerce.
TVS ILP will invest around ₹125 crore in the project and it anticipates its completion by the end of December 2024.
“The event marks a significant milestone in the company's expansion efforts in eastern markets,”
“Now we are focusing on Siliguri in Sikkim and Guwahati in Assam. We are strong in South India and from the southern region we want to move to the eastern region of India and that's where our primary focus is now,” said Manikandan Ramachandran, chief operating officer, TVS ILP, in a recent interview with Indian Transport & Logistics News.
The upcoming facility, with its presence at a strategic location at the confluence of the Mumbai and Chennai-Kolkata highways (off NH 55), enjoys excellent connectivity to the Paradip port and the major parts of the country.
The Cuttack logistics park is expected to generate over 110 direct jobs and between 500 to 1,000 indirect employment opportunities in the region.
Additionally, as part of TVS ILP's commitment to sustainability, the logistics park will incorporate green building principles, focusing on energy efficiency, water conservation, and the use of sustainable materials. Plans are underway to certify the park with the Edge Advanced Green Building certification issued by the International Finance Corporation.
Ramachandran, said, “The Choudwar Industrial Estate has immense growth potential, and our new facility aims to enable businesses to efficiently cater to the rapidly growing demand from the eastern part of the country. We look forward to contributing to the region's prosperity by creating meaningful employment opportunities for the local community while building seamless connectivity across various trade points. This facility is a step further in our commitment to build industrial parks every 400 km in India. As the first player to explore the market, we desire to remain steadfast in our aggressive expansion plans into the Eastern markets.”
“In addition to the Cuttack project, TVS ILP remains committed to exploring similar opportunities in other Tier-2 towns in Odisha, building on its successful track record as the first national logistics park player to enter the state,” it reads.
