Jafza, Tata sign MoU for logistics parks in India

Dubai, May 8: Dubai-based developer Economic Zones World and the Tata Group have signed an MoU to build a platform for developing a chain of business and logistics parks across India.

Jafza International, a fully-owned subsidiary of Economic Zones World and operator of the tax-free park adjoining Dubai's Jebel Ali port, will form a joint venture with Tata's realty and infrastructure unit, TRIL.

''Tata's knowledge of India gives this cooperative venture a strategic edge in an economy that is projected to become a global powerhouse,'' said Jafza Chief Executive Officer Salma Hareb in a statement.

Over the past two years, Jafza has invested a substantial amount of resources in conducting feasibility studies and plotting a countrywide strategy to set up business and logistics parks, she added.

Although no locations have been disclosed for building the logistics parks, TRIL Chief Executive Officer Dinesh Chandiok said the partnership holds promises of immense business opportunities for both sides.

Jafza International runs seven mega facilities in four countries while Economic Zones World is one of the world's biggest developers and operators of business and logistics parks.

UNI