Page 30 - CO January 2022

TICKER TAPE
CONSTRUCTION Welspun One Logistics Parks (WOLP), an asset management acquisitions of a standalone commercial tower by a global
WELSPUN ONE LOGISTICS, TAMIL NADU GOVT INK PACT
FOR 6 WAREHOUSING PROJECTS
institutional investor in the last few years. Ascendas Property Fund
Trustee has acquired the multi-tenanted tower ‘Building Q1’ in
Aurum Q Parc in its capacity as trustee-manager of Ascendas
platform has entered into a pact with Guidance, the government
of Tamil Nadu’s nodal agency, for investment promotion and
India Trust. The deal follows a forward purchase agreement
single window facilitation to set up six warehousing facilities
Aurum Ventures and Ascendas India Trust had entered into in May
across the state. These warehousing projects will be set up in
2018. The definitive agreements between both the entities have
prime warehousing micro-markets like Hosur, Sriperumbudur and
in Building Q1 for a gross consideration of around `353 crore or
Thiruvallur and will have a development potential of around 8
million sq ft to be built across a span of five years. The projects will now been executed to acquire all of the issued share capital
Singapore $64.1 million. As part of the agreement, in addition to
be executed by Welspun One Logistics Parks and will bring direct the gross consideration, Aurum will be paid for incremental leasing
investments of approximately `2,500 crore to Tamil Nadu. within 12 months from the date of the acquisition. The said tower
The government of Tamil Nadu and Welspun One Logistics Parks, ‘Building Q1’ counts multinational companies such as Hexaware
part of the $3.5 billion Welspun Group have entered into this pact Technologies and FirstRand Services as its key tenants. Despite
to enhance the logistics infrastructure within the state. the Covid19 pandemic, leasing for the tower is underway and the
Following the implementation of the Goods & Services Tax leasing momentum in Navi Mumbai is on an upward trajectory.
(GST) and emergence of ecommerce, the Indian logistics and
warehousing sector is headed towards transformative growth. ARETE GROUP TO INVEST `1,050 CRORE IN DEVELOPING
While demand in other commercial real estate segments has PHASE ONE OF INDUSTRIAL PARK IN GUJARAT
been impacted in the last few quarters, the warehousing market ARETE Group will invest `1050 crore in developing phase one of
has stood out led by e-commerce and third-party logistics growth. Payal Industrial Park, a privately-integrated Industrial Park at Dahej,
According to industry estimates, almost one-fourth of the total Gujarat. The park is spread over 3,500 acre of area earmarked for
warehousing space in India has been leased by e-commerce large-scale industrial development, logistics parks and utilities. It
firms such as Flipkart and Amazon in the last two years. This is is developed within the Gujarat PCPIR (Petroleum, Chemicals and
further expected to accelerate, due to larger behavioural change Petrochemicals Investment Region) – as declared by Government
of consumer buying following the outbreak of Covid19 pandemic. of India under PCPIR Policy 2007, and surrounded by fast-growing
The industrial and logistics segment has become a key growth industrial projects within Gujarat PCPIR. Payal Industrial Park will
driver in real estate and expansion of the online retail sector become the gateway for the future of industrial revolution in India.
has resulted in greater demand for warehousing, thereby The Park customizes the facilities to suit requirements of clients
resulting in higher investments in infrastructure and supply chain from different industrial backgrounds, helps them with regulatory
modernization. approvals, and even provides them end-to-end assistance to
set up and grow within the industrial ecosystem. The Park has
PARSVNATH DEVELOPERS RECEIVES CONCESSION been approved by the Government of Gujarat and is located
RIGHTS FROM DMRC FOR CONSTRUCTION OF HIGH- within a industrially-developed ecosystem and has multi-modal
END SHOPPING MALL IN NEW DELHI connectivity via Ports, Air, Rails and Roads. Payal Industrial Park
Parsvnath Developers has received concession rights from the is promoted by ARETE Group -- which has over 3 decades of
Delhi Metro Rail Corporation Limited (“DMRC”) for the construction, experience in this field, and is one of the largest land bank holders
development, management, operation and maintenance of a in the Dahej-Vadodara Region of the state of Gujarat.
high-end Shopping Mall (“Project”) on land admeasuring 28,400
sq. mtrs., having a potential of 4,00,000 sq. ft. (approx.) leasable SAIL SUPPLIES 50,000 TONNE STEEL FOR PURVANCHAL
area, on BOT basis, situated in New Delhi. The construction and EXPRESSWAY
development work at the Project site has commenced after Steel Authority of India Ltd (SAIL) it has supplied around 50,000
obtaining all the requisite sanctions and approvals in respect of tonnes of steel for the Purvanchal Expressway in Uttar Pradesh.
the Project, including the approval of DMRC for the development Prime Minister Narendra Modi on Tuesday inaugurated the
of the Project by Unity Parsvnaths LLP. 341-km-long Purvanchal Expressway, which connects Lucknow
The Company has into Limited Liability Partnership Agreement to Ghazipur in eastern Uttar Pradesh. In a statement, the state-
dated November 18, 2021, with Unity Buildwell Limited for owned steel maker said it has “supplied 48,200 tonnes of steel
undertaking the development of the aforesaid Project through a for the Purvanchal Expressway, which has been inaugurated
Special Purpose Entity viz. ‘Unity Parsvnaths LLP’ incorporated for by Prime Minister Narendra Modi”. The total products supplied
the same. for the project were TMT Bars, structurals and plates, it said. The
statement added that the expressway will substantially improve
ASCENDAS INDIA BUYS AURUM VENTURES’ 16-STOREY the road connectivity among several districts of Uttar Pradesh.
NAVI MUMBAI COMMERCIAL TOWER FOR `353 CRORE The company earlier supplied steel for projects like Eastern and
Singapore-based Ascendas Property Fund Trustee has acquired Western Peripheral Expressways, Atal Tunnel, Bogibeel and Dhola
realty developer Aurum Ventures’ 16-storey fully-leased Sadiya bridges. SAIL, under the Ministry of Steel, is the country’s
commercial tower spread over 6.2 lakh sq ft in Navi Mumbai’s largest steel-making company having an annual capacity of over
Ghansoli locality for `353 crore. The deal is among the largest 21 million tonnes (MT).

30 CONSTRUCTION OPPORTUNITIES|JANUARY 2022