Mahindra Logistics and Ascendas-Firstspace will set up a million square feet warehouse park for multiple clients in Pune’s Talegaon, said the two sides on Monday.
The three-phase project will first put up 0.5 million square feet of warehouse space by 2024, said a statement by Ascendas-Firstspace platform, a joint venture between CapitaLand Investment and Firstspace Realty.
The warehouse park will be part of the Chakan Talegaon Industrial Corridor (CTIC), a major manufacturing cluster for auto, engineering, and electronics companies.
For Mahindra Logistics, the park in a strategic industrial cluster will be an important part of its nationwide network of multi-user facilities.
“The one million square feet facility will allow us to further expand our range of integrated solutions for key customers in the area, and provide world class, technology-enabled solutions,” said Rampraveen Swaminathan, managing director and chief executive officer (CEO) of Mahindra Logistics (MLL).
The warehouse park will host MLL’s first technology centre for automation, internet of things (IoT), robotics, and blockchain. MLL said the park will be developed with a focus on recycled construction material, liquid discharge management, renewable energy waste management, and state-of-the-art automation.
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"We look forward to expanding our partnership with Mahindra Logistics to other projects across India. We remain committed to being a strong partner to our clients and constructing a robust network of logistic and industrial parks in the key strategic logistics nodes and manufacturing clusters all across India,” said Aloke Buniya, CEO of Ascendas-Firstspace.
JLL, a global real estate services firm specialising in commercial property and investment management, is the transaction advisor for the project.
The park is a testimony of India’s logistics growth story and outsourcing of logistics activities is a major trend, said Sanjay Bajaj, managing director of logistics & industrial, India, in JLL.