TVS Industrial and Logistical Parks (TVS ILP) signed a Memorandum of Understanding (MoU) with the Goa Investment Promotion and Facilitation Board (Goa-IPB) for the development of an avant-garde Grade A Logistics and Warehousing Park in the Verna Industrial Estate with an investment of ₹125 crore.
Spread across an area of 15-20 acres, the facility will help in the transformation of logistics and warehousing standards in the region, the company said. Moreover, the project anticipates providing direct employment for 250 individuals and creating indirect employment for up to 1000 people.
The company’s aim is to cater to the existing industries in Goa while enticing potential investors in critical sectors.Dr. Ramnath Subramaniam, CEO of TVS ILP, said, “This MoU will help put Goa on the map for many businesses that require specialized warehousing solutions. The logistics park aims to become a catalyst for economic growth, fostering industrialization, and generating employment opportunities for skilled and semi-skilled talent in the state.”
TVS ILP has a footprint over 18 parks across 10 states and intends to develop 20 million square feet of infrastructure spread across 20 warehousing parks nationwide in the next three to four years.