TVS Industrial & Logistics Parks (TVS ILP) has raised USD 100 million (about Rs 823 crore) in debt funding from infrastructure debt fund NIIF Infrastructure Finance to finance its development.
The Chennai-based company began operations in 2005 and currently has presence in 11 cities. The money will go into part funding its plans to set up 20 million square feet warehousing and logistics platform by 2027, the company said in a statement on Tuesday.
TVS ILP has plans to double our portfolio to 20 million square feet by 2027, with an investment of around USD 400 million, Nitin Aggarwal, president of the company, said.
NIIF Infrastructure Finance, set up in 2014, provides long-term assistance to environmentally-sound operating infrastructure projects, and has a loan book of USD 2.5 billion.