Horizon Industrial Parks to Invest ₹700 Crore in Redeveloping CWC Warehouses

Horizon Industrial Parks, managed by Blackstone Real Estate funds, is set to invest ₹700 crore to redevelop warehouses owned by the Central Warehousing Corporation (CWC) in 13 locations across India. This public-private partnership aims to modernize these logistics assets into Grade-A facilities, enhancing last-mile logistics solutions.

Horizon Industrial Parks, under the aegis of Blackstone Real Estate funds, is allocating ₹700 crore for the redevelopment of Central Warehousing Corporation (CWC) warehouses in 13 strategic locations.

In a Monday statement, the company announced it has been designated as the Central Warehousing Corporation's (CWC) lead partner for managing 13 of its premier logistics assets.

The state-owned CWC, overseen by the Ministry of Consumer Affairs, Food & Public Distribution, will see its facilities transformed into modern Grade-A warehouses over a 45-year partnership. These upgrades cater to sectors such as e-commerce, retail, third-party logistics, and cold chains.

Horizon Industrial Parks, which spans 25 industrial and logistics parks on over 1,700 acres, facilitated the deal with the help of Knight Frank India. The investment, estimated at 700 crores, targets the growth of a 2.4 million-square-foot last-mile logistics portfolio, one of India's largest to date.

The development will cover key cities, including the National Capital Region, Chennai, Mumbai, Pune, and Bangalore. Blackstone's India Real Estate Head, Asheesh Mohta, highlighted that the project aligns with the firm's global logistics investment strategy, aimed at leveraging Blackstone's scale and expertise.

Separately, Knight Frank India also executed a ₹782 crore PPP deal, modernizing 83 acres of CWC's prime warehouses across 50+ locations with three sites allocated to RSA Warehousing, TransAsia Shipping, and LL Logistics.

(With inputs from agencies.)