Welspun One to invest Rs 700-cr for logistics hub

Mumbai: Welspun One said on Wednesday said it will develop an industrial and logistics hub at the Jawaharlal Nehru Port's Special Economic Zone with an investment of around Rs 700 crore.

This investment is the second deployment from Welspun Ones' latest Fund 2, which is a Rs 2,000-crore Alternative Investment Fund, the company said in a statement. The development of a 1.2-million square feet industrial and logistics hub spread across 55 acres at JNPA SEZ signifies a paradigm shift in India's infrastructure sector, Welspun One said. The total investment of Rs 700 crore includes land as well as construction cost and the project will be financed through a mix of debt and equity, it said.