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CWC to develop 4 warehouses in Kerala

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KOCHI : Four of the 54 locations selected for Central Warehousing Corporation (CWC) facilities in the country are in Kerala. The cumulative warehousing development potential across the four locations – two in Ernakulam and one each in Thrissur and Kozhikode — is estimated to be around 13.5 acres, against the total identified land of nearly 20.76 acres. The four warehouses are expected to cost Rs 132.07 crore.

CWC is monetising and modernising its warehouses across the country under the National Monetisation Plan. This will be carried out through public-private partnership (PPP) mode under the design, build, finance, operate, and transfer (DBFOT) model for a concession period of 45 years.

“Asset modernisation and monetisation which began with just eight locations and a straightforward rental process has now evolved into a comprehensive initiative covering 54 land parcels, and may be more shortly. Our objective extends beyond modernisation and value creation; we are committed to supporting the nation’s vision of reducing logistics costs. Modernised infrastructure and operational efficiency directly translate into cost savings for warehousing assets, which in turn would help the economy at large,” said Mr. Amit Kumar Singh, Managing Director, CWC.

Real estate consultant Knight Frank India has been appointed as knowledge partner to market the 54 land parcels. The development of the 54 locations, covering a total of 572 acres, is expected to cost around Rs 2,152 crore. The land parcels range from five to 30 acres.

“Warehousing assets have become an attractive investment avenue for large developers across the country. The land parcels of the CWC are available at strategic locations, which provide effective price viability owing to its attribution to the asset class which is otherwise available at a premium price value. The CWC land parcels unlock a great opportunity for developers to further expand their warehousing portfolio across geographies in the country ,” said Gulam Zia, Senior Executive Director – research, advisory, infrastructure, and valuation, Knight Frank India.

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