Reliance rebrands Mappedu Logistics Park as Chennai Global Logistics Park; DP World enters JV
CHENNAI : Reliance Industries’ ambitious multi-modal logistics park project at Mappedu near Chennai has been renamed Chennai Global Logistics Park Ltd, with Dubai-based DP World onboarded as a joint venture partner, multiple sources said.
According to sources, the Dubai-based shipping major has taken around two lakh sq ft of warehousing space within the logistics park and has acquired a 49 per cent stake in the joint venture.
Both companies, however, declined to comment on the development. In another indication of DP World’s deeper involvement in the project, Ajay Moghe — who has been associated with the DP World group since May 2017 — was appointed Chief Executive Officer of Chennai Global Logistics Park Ltd in January this year, sources added.
The logistics park currently has five warehouses, of which three already have clients onboarded, according to people familiar with the development.
Background, cargo evacuation
The project, spread across 184.27 acres in Tiruvallur district, was originally conceptualised around 14 years ago but faced multiple delays, including issues related to access through local villages and infrastructure connectivity.
In 2022, Reliance Industries won the bid for the ₹1,424-crore project, beating the Adani Group. Prime Minister Narendra Modi laid the foundation stone for the project on May 26, 2022.
A pre-feasibility report for the project had highlighted its strategic importance as a logistics hub serving secondary industrial clusters such as Ranipet, Ambur, Tiruppur and Bengaluru. These regions house industries ranging from leather and heavy engineering to automobiles, cement, sugar and chemicals.
The park is also strategically located near the automobile and electronics manufacturing belt of Sriperumbudur-Oragadam and close to the Chennai Peripheral Ring Road. Industry sources said the long-term success of the project would depend significantly on dedicated rail connectivity between Mappedu and the ports around Chennai, which would help improve cargo evacuation and reduce logistics costs.
Source : BL
