CHENNAI: TVS Industrial and Logistics Parks (TVS ILP)—a 50:50 joint venture between TVS Supply Chain Solutions and Ravi Swaminathan Associates—announced on Thursday that it will raise growth capital from the CDC Group, the United Kingdom’s publicly-owned impact investor. This is the first time that TVS ILP has raised institutional investment.
According to the company, CDC will become a significant minority shareholder in the business, but no financial details were disclosed. R Dinesh, Director, TVS Industrial & Logistics Parks Pvt. Ltd, said, “To propel the company to the next level of growth, we feel bringing in a strategic investment partner is the ideal next step. TVS ILP and CDC have a similar vision to bring in the best-in-class environmental and sustainable practices to this industry hence, we are eagerly looking forward to this partnership.”
TVS ILP has been providing investment-grade warehouses in underserved markets, helping to facilitate trade, and transport with efficient logistics facilities, according to an official statement. “Our investment will create 3,000 construction jobs and support the creation of a further 500 jobs during warehouse operations.
Constructed to EDGE advanced green building standards, the warehousing will also minimise greenhouse gas emissions and support climate change mitigation,” said Srini Nagarajan, Managing Director and Head of Asia at CDC. Ravi Swaminathan, Director, TVS Industrial & Logistics Parks Pvt Ltd. added that partnership would be help promote transparency and governance in the sector.