TVS ILP commits Rs 125 cr for logistics, warehousing park in Goa

CHENNAI: TVS Industrial and Logistical parks has signed a memorandum of understanding with the Goa Investment Promotion and Facilitation Board for the development of a logistics and warehousing park in Goa.

The strategic commitment involves an investment of Rs 125 crore, marking TVS ILP fostering industrial growth in Goa, a company statement issued here on Tuesday said. The facility, to come up at the Verna Industrial Estate in Goa, would be spread across 15-20 acres and generate direct employment of 250 and indirectly 1,000 in the region, the statement said. TVS ILP CEO Ramnath Subramaniam exchanged documents with Goa-Investment Promotion and Facilitation Board CEO Swetika Sachan at the Invest Goa 2024 Summit recently.

“Our partnership with Goa-IPB is a significant milestone for TVS ILP. The Centre has been making investments in Goa’s infrastructure, making it an attractive business destination. This MoU will help put Goa on the map for many businesses that require specialised warehousing solutions,” Subramaniam said.

“...the logistics park aims to become a catalyst for economic growth, fostering industrialisation and generating employment opportunities for skilled and semi-skilled talent in the state,” he said.

TVS ILP’s mission is to cater to the existing industries in Goa while enticing potential investors in critical sectors, the statement said. The collaboration with the government of Goa showcased TVS ILP’s dedication to enhancing the state’s industrial landscape, it added.