TVS ILP signs MoU with Goa-IPB, Commits INR 125 Crores for Stateof-the-Art Warehousing Park

TVS Industrial and Logistical Parks (TVS ILP) on Monday, signed a Memorandum of Understanding (MoU) with the Goa Investment Promotion & Facilitation Board (Goa-IPB) for the development of an avant-garde Grade A Logistics & Warehousing Park in the Verna Industrial Estate. The strategic commitment involves an investment of INR 125 crores, marking TVS ILP’s proactive stance in fostering industrial growth in the Union Territory.

The signing ceremony took place at the prestigious Invest Goa 2024 Summit and the MoU was signed between Dr. Ramnath Subramaniam, CEO of TVS ILP, and Ms. Swetika Sachan IAS, CEO of Goa-IPB.

Spanning an extensive area of 15-20 acres, this state-of-the-art facility is poised to redefine logistics and warehousing standards in the region. The venture is not only about infrastructural development but also about generating substantial economic impact in the area. The project anticipates providing direct employment for 250 individuals and creating indirect opportunities for up to 1000 people, thereby contributing significantly to job creation in the local community.

Dr. Ramnath Subramaniam, CEO of TVS ILP, said, “The Central Government has been making investments in Goa’s infrastructure, making it an attractive business destination. This MoU will help put Goa on the map for many businesses that require specialized warehousing solutions. By aligning with the government’s vision, 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 emerges as a pioneer in the logistics parks sector, boasting an extensive footprint with over 18 parks across 10 states. As the oldest and most dedicated corporate developer in this segment, TVS ILP is set to embark on a transformative journey, envisioning the development of 20 million square feet of cutting-edge infrastructure spread across 20 warehousing parks nationwide in the next three to four years.

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