Mahindra Logistics Ltd on Monday said it will set up a new 1-million sq ft multi-client warehouse park in Talegaon, Pune, in association with industrial real estate developer Ascendas-Firstspace.
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 FY24, MLL said in a statement.
Ascendas-Firstspace -- a joint venture between CapitaLand Investment and Firstspace Realty -- is developing a 40-acre logistic park named 'Ascendas-Firstspace Pune Talegaon-II'.
In addition to an A-grade warehousing capacity of 1 million square feet, the facility will also host MLL's first automation technology centre that focuses on the development and deployment of automation technologies on Artificial Intelligence, Internet of Things (IoT), robotics, automation and block-chain, among others, the company said.
Talegaon-II is one of most important manufacturing clusters in India
Talegaon-II is part of the Chakan Talegaon Industrial Corridor (CTIC), 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 programme, according to the statement.
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, MLL said, adding the project will be an important part of MLL's pan-India network of multi-user facilities in a strategic industrial cluster.
MLL is making this investment in partnership with Ascendas-Firstpace, said Rampraveen Swaminathan, Managing Director and CEO at Mahindra Logistics.
"The 1-million SFT facility will allow us to further expand our range of integrated solutions for key customers in the area, and provide technology-enabled solutions," he added.
Mahindra Logistics said its facility, located within CTIC, will be developed with a focus on recycled construction material, liquid discharge management, renewable energy waste management and automation.
"We welcome Mahindra Logistics with great enthusiasm and look forward to expanding our partnership 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 at Ascendas-Firsrspace.
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