Mumbai, May 12 (PTI) Warehousing and industrial real estate platform Welspun One on Tuesday said it has signed a Letter of Intent (LoI) with state-owned Balmer Lawrie & Co to sublease warehousing space in Mumbai.

As per the deal, Welspun One will sublease around 65,000 sq ft of Grade A+ warehousing space at WTC Nhava Sheva within the JNPA special economic zone to the company for five years.

Balmer Lawrie is the first central public sector undertaking (PSU) to partner with Welspun One across its portfolio, the company said.

The collaboration will also support the company's expansion into SEZ warehousing and port-linked logistics operations, building on its existing strengths in CFS (container freight station) operations, freight forwarding and international trade facilitation, it said.

The facility is expected to become operational by early 2027, according to Welspun One.

Balmer Lawrie already operates a container freight station at Jawaharlal Nehru Port Authority (JNPA) in Navi Mumbai. The WTC Nhava Sheva facility, which offers customs duty deferment and faster clearance, extends that footprint into SEZ warehousing and value-added logistics services.

"WTC Nhava Sheva has been designed for partners who require high-quality infrastructure, regulatory efficiency and direct proximity to India's most important port-led trade gateway and we believe this will set the tone for many more institutional engagements," said Neeraj Balani, Chief Customer Officer, Welspun One.

WTC Nhava Sheva, Welspun One's flagship port-led logistics and industrial development within the JNPA SEZ, spans 55 acres, with a development potential of around 4.45 million sq ft and an investment outlay of Rs 2,700 crore. The project has been designed as an integrated ecosystem for warehousing, industrial and EXIM-linked operations, according to Welspun One. PTI IAS SHM