Download Unicorn Signals App

Powered By EquityPandit
BUSINESS

Mahindra Logistics Announced Investment of Rs 170 Crore in a 6.5 Lakh sqft Warehousing Facility in Phaltan 

Mahindra Logistics announced its Rs 170 crore warehousing facility in Phaltan.

On January 23, Mahindra Logistics Ltd announced the construction of its Rs 170 crore warehousing facility in Phaltan, Maharashtra. The new facility will be developed in two phases, encompassing over 6.5 lakh square feet (sq ft). 

The first phase, comprising 3.5 lakh sq ft, will be operational by the end of 2024. It has been contracted to a manufacturing client and will function as their national logistics centre.

According to an exchange filing, Mahindra Logistics will leverage the warehouse to manage inbound logistics to manufacturing and distribution solutions of diverse clients in the region’s automotive and manufacturing sectors. 

The new facility, which is spread over 25 acres, will be an important part of Mahindra Logistics’ nationwide network of multi-client facilities and will create employment opportunities for more than 500 individuals in Phaltan. 

The company added that Phaltan is a strategic location in close proximity to key customers in auto Original Equipment Manufacturer (OEM) and components. 

The company and its partners will invest Rs 170 crore across multiple phases to develop the new facility and related infrastructure. 

Get Daily Prediction & Stocks Tips On Your Mobile