CIDCO Launches Bidding for Major Logistics Park in Navi Mumbai
CIDCO invites bids for phase 1 of 925-acre Navi Mumbai logistics park
Image: The Economic Times
The City and Industrial Development Corporation (CIDCO) in Maharashtra has invited bids for the first phase of a 925-acre Integrated Logistics Park in Navi Mumbai. The project aims to enhance logistics capabilities in the region, attracting significant investment and creating job opportunities, while leveraging strategic infrastructure like the Jawaharlal Nehru Port and the upcoming Navi Mumbai International Airport.
- 01CIDCO is leasing 174 acres of land in phase 1, divided into 12 plots, under its Pass-Through Policy framework.
- 02The base lease rate is set at ₹24,711 per square meter, equating to nearly ₹10 crore per acre.
- 03Major logistics firms, including Blackstone and DP World, participated in the pre-bid meeting, indicating strong investor interest.
- 04The project includes various permitted uses such as warehousing, cargo aggregation, and customs-bonded facilities.
- 05The development is expected to generate employment and align with the Indian government's vision for a modern logistics ecosystem.
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The City and Industrial Development Corporation (CIDCO) has initiated the bidding process for the first phase of its Integrated Logistics Park (ILP) in Navi Mumbai, covering 925 acres at Pushpak Node. This project is one of the largest logistics infrastructure developments in the Mumbai Metropolitan Region (MMR), aimed at enhancing warehousing, cargo handling, and distribution capabilities. CIDCO is leasing 174 acres of land across 12 plots in this phase, with a base lease rate of ₹24,711 per square meter, approximately ₹10 crore per acre. The park's strategic location near the Jawaharlal Nehru Port and the upcoming Navi Mumbai International Airport positions it as a vital multimodal logistics hub. Notable participants in the pre-bid meeting included major players like Blackstone-owned Horizon Industrial Parks and DP World, reflecting a robust investor appetite for modern logistics assets. The successful bidder will be tasked with designing, financing, and maintaining the logistics facilities, which will support various operations including warehousing and customs-bonded logistics. This initiative aligns with the Indian government's goals of reducing logistics costs and enhancing supply chain efficiencies, while also promising to create employment opportunities in the region.
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The development of the logistics park is expected to create numerous job opportunities and attract significant private investment, enhancing the region's logistics capabilities.
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