Tinesh Bhasin

Mumbai: Tata Realty and Infrastructure Ltd (TRIL), a 100% subsidiary of Tata Sons, has partnered with Dubai-based Jafza International to develop logistic parks across India with total investments of Rs 10,000 crore. Both the companies will invest equally in the joint venture.

The development will be carried out in two phases. Both the companies will invest Rs 2,400 crore in phase one to construct logistics park on seven major metros’ periphery. In phase two, the JV will add another 20 hubs in smaller cities.

R K Krishna Kumar, director of Tata Sons, said, “We will began with Mumbai, Hyderabad, Chennai and two more locations.”

The size of logistic parks will be between 100 acres and 600 acres. Samir Chaturvedi, executive vice president-business development, Jafza Group, said, “The idea is to offer everything under one roof. We will try to have all modes on transportation in these hubs including air, rail and port.” Each hub will take 5-7 years to complete.

The investment from Tatas for the JV will flow through various channels. Apart from equity and debt, Tata’s may use money from their infrastructure fund that company will float next year.

“Investors are keen to participate in the infrastructure development projects. We are considering the investments from our infrastructure fund in these projects,” Krishna Kumar said.

Source : DNA