TVS ILP to Invest Rs 200 Cr in MP Logistics Park

Mumbai, Oct 23 (PTI) TVS Industrial & Logistics Parks (TVS ILP) on Wednesday announced its plans to invest Rs 200 crore in setting up a facility at Pithampur, Madhya Pradesh.

The company has already secured a 20-acre land from Madhya Pradesh Industrial Development Corporation for the facility, TVS ILP said.

The logistics park, located just 25 kilometre from Indore city, will cater to the growing demand for quality warehousing in the region and create a strong market for local products.

Additionally, the project is expected to generate employment for over 1,000 people in and around Indore.

The entry of TVS ILP into Indore will bring state-of-the-art, tech-driven warehouses that meet international standards for operational efficiency and sustainability, it said.

TVS ILP is poised to address the rising need for Grade-A logistics facilities in the region, particularly among e-commerce, retail, and FMCG giants seeking efficient and compliant storage solutions, the company stated.

The development is designed to reduce transit times and improve the overall efficiency of goods delivery to end-users, providing businesses with a competitive edge in their logistics operations, TVS ILP said.

"The landlocked state of Madhya Pradesh has a lot of potential to become a hub for logistics given its location and connectivity to other states. Our entry into Indore aligns with TVS ILP's vision of being the industry leader in tech-enabled infrastructure solutions," said Ramnath Subramaniam, CEO at TVS ILP.

The company aims to further bolster the city's infrastructure and provide opportunities to potential global and domestic customers to enhance their presence by being part of its strategically located warehouse, he added.

As a well-connected SMART city, Indore has become an attractive hub for industries looking to improve operational efficiencies and reach expansive markets, according to the company.