TVS Supply Chain Solutions is planning to invest a whopping amount of $150 million (Rs 1,100 crore) to launch a new warehousing venture this month.
According to reports, the UK government’s investment arm CDC is also supporting by investing in $50 million (Rs 369 crore).
Sources say, “The venture will focus on building modern warehouses on the outskirts of large industrial clusters such as Chennai and Pune, etc. The project will also focus on the growing e-commerce opportunities in the country.
A CDC Spokesperson said, “Though the exact area the venture is planning to build is not known, experts said with an investment of Rs 1,100 crore, a developer can build around nine million square feet, given the cost of construction comes to around Rs 1,500 per sq ft and land cost comes around Rs 2 crore per acre.”
TVS Supply Chain Solutions is one of the largest warehousing companies with over 300 strategically located warehouses covering over 10 million sq ft of area in 29 states and union territories.