DP World deploys 40-45% capex for free trade hubs in 3 ports

Published - May 08, 2024 10:46 pm IST - CHENNAI

DP World, a global logistics company, has spent about 45% of its ₹1,700 crore planned capex to set up, develop and operate its Free Trade Warehousing Zones (FTWZ) in Chennai, Mumbai and Kochi.

“The Chennai economic zone was commissioned in October 2023,” DP World’s VP, Economic Zones, Subcontinent, Ranjit Ray said. “Nhava Sheva economic zone in Mumbai has been functioning since 2022 and Kochi zone will begin operations soon,” he added.

“We have utilised 40-45% of capex. The balance will be deployed depending on demand,” he said.

The 6,00,000 sq. ft Chennai economic zone has four warehouses and will focus on Asian and African markets and cater to industrial engineering, FMCG, cosmetics and pharmaceutical sectors.

The Chennai warehousing zone will offer a range of value added services like labelling, packaging, basic manufacturing and facilitating re-export, Mr. Ray said, adding he was hopeful the Chennai FTWZ would break even in FY25.

of the three FTWZs, Chennai is the biggest, spread across 125 acres, followed by Mumbai and Kochi at 85 acres and 10 acres respectively.

Nhava Sheva economic zone is spread over 10 lakh sq. ft and it would be doubled, while Kochi economic zone is spread across 70,000 sq. ft, with a planned addition of 1.30 lakh sq. ft.

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