Khaleeji Commercial Bank announces the establishment of Global Logistix Navi Mumbai Investment Company

    Dumped value of 'ID':
'163583';

Dumped value of 'images_loop':
[
    {
        'caption' => 'Mr. Ebrahim H. Ebrahim, CEO and Board Member of Khaleeji Commercial Bank.',
        'col' => 'picture',
        'name' => 'KHCB.jpg',
        'url' => '/5/61135-KHCB.jpg'
    }
];

The fund will aid in the development of India's first integrated logistics city project on a 400 acre site in Navi, Mumbai.

India, currently the world's fastest emerging economy, is slated to surpass the UK and Germany by 2050 as the third largest economy in the world.

Mr. Ebrahim H. Ebrahim, CEO and Board Member of Khaleeji Commercial Bank commented on the launch of the fund, 'Global Logistix stands to play an integral part in Navi Mumbai. The economic conditions in India are perfect at the moment to support such an initiative. We are looking forward to sustaining this important endeavor as it will aid the infrastructure and logistics industry development that is sorely needed in that region of the world.'

The project is a logistics focused real estate development comprising of an integrated logistics park on 400 acres of land.

The initial development projects supported by this investment fund will include the construction of warehouses, control building, maintenance depot, staff accommodation, parking areas, and various other amenities.

The concept is being driven by the need for a large scale, organized, all inclusive logistics park in Navi Mumbai and its surrounding areas.

Mr. Ebrahim H. Ebrahim went on to say, 'The project is aimed at providing all logistical services in one fully integrated park. This will enable potential and existing businesses the opportunity to increase their operating efficiency, market exposure, and to minimize their operational costs. Once completed, this real estate development will provide a state of the art business place and platform for market participants of varying sizes. The Bank can foresee Mumbai's need for a large scale logistics park, as it is the largest market for retail in India, having approximately 20% of the country's total retail opportunities within its borders.'