"TVS ILP Allocates ₹125 Crore for New Warehousing Facility in Cuttack"

TVS ILP, a prominent player in the warehousing sector and part of the TVS Mobility Group, has commenced the construction of a cutting-edge warehouse in Cuttack, Odisha, signaling its foray into eastern markets.

Spanning 24 acres, the upcoming facility will feature two expansive warehouses covering a total of 5 lakh square feet. It is designed to serve various sectors including FMCG, FMCD, 3PL, and e-commerce. Strategically located at the intersection of the Mumbai and Chennai-Kolkata highways (off NH 55), the site offers excellent connectivity to the Paradip port and key areas across the nation.

With an investment of approximately ₹125 crore, TVS ILP aims to complete the project by December 2024. The logistics park in Cuttack is anticipated to create over 110 direct job opportunities and between 500 to 1,000 indirect employment opportunities in the region, according to a company release.

Manikandan Ramachandran, COO of TVS ILP, highlighted the significant growth potential of the Choudwar Industrial Estate and emphasized that the new facility aims to facilitate businesses in meeting the rising demand from the eastern region of India. He also reiterated the company's commitment to establishing industrial parks approximately every 400 km across the country.

In addition to the Cuttack project, TVS ILP expressed its dedication to exploring similar ventures in other Tier-2 towns in Odisha, underscoring its position as the first national logistics park player to enter the state.

HBL