Blackstone, a global asset management firm, is set to invest ₹700 crore in developing 70 acres of warehousing assets owned by the Central Warehousing Corporation (CWC) through a public-private partnership (PPP). This initiative is part of CWC’s asset monetisation strategy, which has identified 83 acres for development, with Blackstone’s Horizon Industrial Parks acquiring the majority share. Other companies involved in awarded projects include RSA Warehousing, TransAsia Shipping, and LL Logistics. Knight Frank India is serving as the transaction advisor for CWC. The investment plan encompasses the modernisation of over 50 prime warehousing properties across 16 locations, collectively valued at ₹782 crore.
The 45-year concession agreement, collaboratively created by CWC and Knight Frank, stipulates that the concessionaire will design, build, finance, and manage the facilities. Upon conclusion of the concession period, the assets will revert to CWC. Project completion is expected within five years, with revenues channeled through an escrow account managed by CWC to ensure proper disbursement. “The primary goal of CWC is to enhance the quality of warehousing and logistics spaces in India, aiming to reduce logistics costs and ensure the quality of goods,” stated Amit Singh, Managing Director of CWC. This partnership marks the first instance of foreign investment funds directly bidding for government tenders in India, with ongoing evaluations for multiple bids at 34 additional sites nationwide.
