Mahindra Logistics and Ascendas-Firstspace launches one million sq. ft. warehouse park in Talegaon, Pune

Mahindra Logistics Ltd. (MLL) and Ascendas-Firstspace, an industrial real estate developer today announced the setting up of a new one million square feet of multi-client warehouse park in Talegaon, Pune. 

With comprehensive connectivity, the entire development will be spread over three phases with the first phase of 0.5 million sq. ft. to be operational by the end of 2023-24.

At around 2:15 PM, Mahindra Logistics was trading at Rs354.50 per share lower by 1.23% on the BSE.

According to the filing, at the Ascendas-Firstspace Pune Talegaon-II Logistics Park, spread over 40-acres, this is the second project in the micro-market of Ascendas-Firstspace. Talegaon-II is part of the Chakan Talegaon Industrial Corridor (CTIC), which is one of the most important manufacturing clusters in India. 

The area has been a traditional manufacturing base for large auto, engineering, and electronics companies. The CTIC corridor is currently witnessing significant growth on account of the success of the Make in India program.

For Mahindra Logistics, this will be an important part of MLL’s pan-India network of multi-user facilities, in a strategic industrial cluster. In addition to A-grade warehousing capacity of one million square feet, the facility will also host MLL’s first Automation Technology Centre that focuses on development and deployment of automation technologies on Artificial Intelligence, Internet of Things (IoT), Robotics & Automation, ARVR, AGVs and Block-Chain, the company said in a filing on Monday.

Rampraveen Swaminathan, Managing Director & CEO, Mahindra Logistics, said, “The Chakan region is one of India’s leading industrial & consumption clusters. The region is the largest area for Mahindra Logistics, and we are pleased to announce this investment in partnership with Ascendas-Firstpace. 

The one million SFT 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. 

The site will also host our first Automation Technology Centre and focus on DEIA talent development. Designed to be an IGBC/LEED certified facility per our vision to carbon neutral by 2040.”

Related Blogs
blog-logo

Share Market

blog-logo

8 mins read . 19 Jul 2024

Stock Market Trading Time in India

  • 1 people read
blog-logo

Share Market

blog-logo

11 mins read . 19 Jul 2024

How To Trade in T2T Stocks

  • 2 people read
Kickstart your equities journey today You've got this
By submitting this I agree to the terms & conditions