Blackstone to Invest ₹700 Crore in Developing 70 Acres of CWC Warehouse Assets

Global asset manager Blackstone will invest ₹700 crore to develop 70 acres of Central Warehousing Corporation’s (CWC) warehouse assets through a public-private partnership (PPP).

CWC, which is pursuing an asset monetisation strategy, has allocated 83 acres of its warehousing space for development, with Blackstone’s Horizon Industrial Parks securing the majority share. Other awarded projects include RSA Warehousing, TransAsia Shipping, and LL Logistics.

Knight Frank India is advising CWC on these transactions. Under the PPP model, CWC has identified over 50 prime warehousing properties across 16 locations for modernization, totaling an investment of ₹782 crore.

The concession agreement, jointly developed by Knight Frank and CWC, outlines a 45-year period during which the concessionaire will design, build, finance, and operate the facilities. After this period, the facilities will revert to CWC. The redevelopment is slated for completion within five years, with all project revenue managed in an escrow account by CWC for subsequent 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,” said Amit Singh, Managing Director of CWC.

This initiative marks the first instance of foreign investment funds directly bidding for government tenders in India. Currently, multiple bids for 34 locations across the country are under evaluation.

HBL