WELSPUN ONE LAUNCHES INDIA'S LARGEST LOGISTICS FACILITY; INVESTS $325M

• Spread across 55 acres, this is India’s first-of-its-kind integrated port-based logistics ecosystem
• The state-of-the-art asset will transform the Asia-Pacific supply chain
  
   

MUMBAI, India, Nov 28 (Bernama-BUSINESS WIRE) -- Welspun One, India’s fastest-growing new-age logistics and industrial real estate manager, is investing $325M in the country’s largest single-location ‘Grade A’ warehousing and industrial park at the Jawaharlal Nehru Port Authority (JNPA) Special Economic Zone (SEZ) in Navi Mumbai (India). Originally envisaged as a 1.2 million sq. ft. park which entailed an investment of ~$84M, the company has now upscaled the size of the project to ~4.45 million sq. ft. of BUA to cater to the growing export-import demand arising at the JNPA Port.

JNPA, handling ~35% of India’s maritime traffic, is the largest container port by throughput. This prime location presents an unprecedented opportunity for the SEZ/FTWZ segment to scale, particularly as the region has historically faced constraints in integrated facility solutions. Welspun One’s facility addresses this gap by offering businesses across sectors like chemicals, automotive, FMCG, pharmaceutical, and electronics with an integrated, cost efficient logistics solution in a high potential area.

Strategically located within 5 km of the port terminals with direct vessel access, the facility offers unparalleled advantages. It also enjoys proximity to critical transport networks such as National Highways, the Dedicated Freight Corridor (West), the Mumbai Trans Harbour Link (MTHL), and the upcoming Navi Mumbai Airport – giving it a significant logistical advantage. The mega project features 3.95 million sq. ft. of warehousing space, 0.25 million sq. ft. of Grade A office space, and 0.25 million sq. ft. of industrial space.

Designed for maximum operational efficiency, the park features G+2 floors, 12-meter floor-to-floor height, and incorporates 30-feet-wide unidirectional ramps for seamless cargo flow between levels. It has a 6-ton floor load capacity, accommodates over 400,000 pallet positions, and comes with parking for over 600 trucks. With an annual throughput capacity of 36,000 TEUs, the facility is officially the largest single-location warehousing and industrial park in India, redefining standards for integrated logistics ecosystem.

The project is not just a logistics hub but a strategic business enabler. It is expected to generate direct and indirect employment for over 5,000 people, strengthening the local economy. As a part of a notified SEZ, it also provides occupiers additional benefits such as exemption of Goods and Services Tax (GST), customs duty deferment, faster customs clearance, and minimal detention or demurrage risks. All of this enables seamless movement of goods and optimized inventory management, resulting in improved operational efficiency and significant cost savings of up to 15%. Further, it also improves the logistical efficiency of the port making the project an ideal hub for international businesses looking to optimize their supply chains.

Commenting on the development, Mr. Anshul Singhal, Managing Director, Welspun One, said, “India’s port ecosystem has long needed a logistics solution beyond storage. This facility is set to be a game-changer for logistics and supply-chain operations in India and elevate India’s position on global trade and ease of doing business. By identifying the strategic location and partnering with a global team of world-class designers and engineers from Japan, Singapore, and the Middle East, we are building an international facility that delivers on the dual imperatives of efficiency and cost-effectiveness. This investment represents not just a milestone for Welspun One but a bold step forward in transforming India’s logistics landscape.”

Commenting on the milestone, Mr. Balkrishan Goenka, Chairman, Welspun World, said, “Our recent $325M (including ~$84M co-investment commitments) equity fundraising for Fund 2 reaffirms the confidence of investors in our strategy to create demand-led, logistics-anchored developments. With nearly 70% of the fund already committed and 45% drawn down, we are executing at a scale and speed that sets us apart. This project at JNPA SEZ is a pivotal part of our vision to align with India’s growth story and redefine its logistics infrastructure.”

View source version on businesswire.com: 
https://www.businesswire.com/news/home/20241126137628/en/

Contact

For further information:
Website: www.welspunone.com | Reach out to Abhishek_Dassani@welspun.com

Source : Welspun One

EMGA SECURES US$210M FROM EIB FOR BRAZIL'S BTG PACTUAL

LONDON, 26 Nov (Bernama-GLOBE NEWSWIRE) -- Emerging Markets Global Advisory Limited (EMGA) announces today they have secured US210M debt finance for their long-standing Brazil based client; BTG Pactual.

The US$210 million debt facility was provided by EIB and the follows on from previous facilities arranged by EMGA.

Sajeev Chakkalakal, Managing Director and Head of Investment Banking at EMGA, said: "Yet again we are delighted to have arranged this landmark transaction aimed at funding BTG’s Green Lending portfolio and the resultant strong net positive benefits for climate sustainability. EIB remains a key investor relationship for EMGA, and we are proud to have helped them increase their presence in Brazil as part of their broader EIB Global strategy.

Jeremy Dobson, Managing Director, and Head of Operations at EMGA, added: “It was a pleasure to work with BTG again on an additional financing with a new Development Financial Institution (DFI). We look forward to continuing our strong track record of arranging financing in Brazil and the rest of Latin America.”

BTG Pactual: BTG is the largest investment bank in Latin America, the 6th largest bank in Brazil by shareholders equity and a key player in providing loans and guarantees to a broad set of clients, from SMEs to large corporations. BTG is a pioneer in promoting climate finance in Brazil and plays a pivotal role in channeling resources towards projects with a positive impact in the community. 

EIB: EIB is The European Investment Bank (EIB) is the European Union's investment bank and is the largest multilateral financial institution in the world. The EIB finances and invests both through equity and debt solutions and focuses on the areas of climate, environment, small and medium-sized enterprises (SMEs), development, cohesion and infrastructure. 

Emerging Markets Global Advisory LLP (EMGA), with offices in London and New York, helps financial institutions and corporates seeking new debt or equity capital. EMGA’s multi-national team combine the decades of experience necessary to complete transactions on behalf of their clients within the world’s emerging markets and frontier economies, including Brazil which remains a key market. With a proven track record in capital formation and strategic advisory throughout diverse economic cycles, EMGA continues to deliver geographic reach and service offering, solidifying its place in the market as one of the industries pre-eminent emerging markets focused niche investment banks.

Contact info@emergingmarketsglobaladvisory.com 


SOURCE : Emerging Markets Global Advisory

CGS ELEVATES JOHN SAMUEL TO CHIEF OPERATING OFFICER TO FURTHER ENHANCE CLIENT SERVICE AND DRIVE OPERATIONAL EXCELLENCE

NEW YORK, Nov 26 (Bernama-GLOBE NEWSWIRE) -- Computer Generated Solutions, Inc. (CGS), a global provider of software applications, enterprise learning, customer experience and business process outsourcing services, today announced that John Samuel has been promoted to Chief Operating Officer (COO). The appointment reflects CGS’s continuing commitment to operational excellence within the company -- and in service to its blue-chip clients. Clients trust CGS to design, implement, and optimize core business functions, like learning and development, supply chain management, and customer service, allowing them to outpace their competition with greater focus on their own core competencies.

"John's appointment to COO will mark an inflection point in CGS’s forty-one-year history," said Phil Friedman, CGS founder and CEO. "CGS was founded as a technology company and innovation has been core to our success over the years. Our clients trust us to deliver the right combinations of technology, people, and processes to drive their growth. John has a sure footing across all three vectors and is the perfect leader to take our business to new heights. I am particularly excited by John’s vision for integrating AI into our products, services, and operations.”

Since joining CGS in 2016, Samuel has served in various strategic leadership roles, most recently as Executive Vice President, where he spearheaded the company’s digital transformation initiatives. As COO, he will now also oversee global operations. His focus will be driving productivity, operational efficiency, and the integration of advanced technologies to further enhance CGS’s client services. Under John’s leadership, CGS plans to expand its global footprint and implement innovative AI solutions to improve workflows and decision-making processes. These advancements will deliver enhanced efficiency and optimized results, ensuring CGS continues to meet the rapidly evolving needs of its clients.

“As CGS continues to grow and expand globally, I look forward to working closely with our CEO, Phil Friedman, and our exceptional executive team, to execute our vision for driving innovation, enhancing operational excellence, and delivering greater value to our clients and partners,” said Samuel. “This new chapter represents an incredible opportunity to further align our resources and talent with our strategic priorities, pushing boundaries on productivity and efficiency across all areas of the business. I’m honored to play a role in shaping CGS’s future!”

About CGS
For more than 40 years, CGS has enabled global enterprises, regional companies, and government agencies to drive breakthrough performance through business applications, enterprise learning and outsourcing services. CGS is wholly focused on creating comprehensive solutions that meet clients’ complex, multi-dimensional needs, and support clients’ most fundamental business activities. Headquartered in New York City, CGS has offices across North America, South America, Europe, the Middle East, and Asia. For more information, please visit www.cgsinc.com and follow us on LinkedIn.

Media Contact

Alan Marcus
amarcus@cgsinc.com

A photo accompanying this announcement is available at 
https://www.globenewswire.com/NewsRoom/AttachmentNg/a39794c0-0478-4d87-8ded-2ed3a2cc96be 

SOURCE : CGS

SIMPPLE DEPLOYS 89 AUTONOMOUS CLEANING ROBOTS ACROSS SINGAPORE'S MRT STATIONS

KUALA LUMPUR, Nov 25 (Bernama) -- SIMPPLE Ltd, a technology provider and innovator in the facilities management sector, through its subsidiary, has completed the sale and deployment of 89 autonomous cleaning robots across Singapore, marking the largest robotic fleet in the land transport sector with rail operator SMRT Trains.

“We are thrilled to supply our robots all across Singapore’s MRT stations. Partnering with SMRT Trains to transform facility management operations with autonomous cleaning robots is a step in the right direction as Singapore transitions to outcome-based contracting,” said SIMPPLE chief executive, Norman Schroeder.

Aligned with the broader Singapore Government initiative to push towards greater automation and digital transformation, SMRT Trains awarded the autonomous cleaning robot contract to SIMPPLE’s subsidiary to deploy across three major Mass Rapid Transit (MRT) lines in Singapore.

These robots utilise advanced sensors and artificial intelligence (AI) to navigate through MRT stations with precision, ensuring a more thorough and consistent clean without human intervention.

Intended to significantly accelerate the speed and efficiency of cleaning operations, these robots relieve the cleaning workforce of strenuous and repetitive tasks, according to SIMPPLE in a statement.

As demand for environmental services continues to rise, driven by economic sophistication and urbanisation, public expectations on maintaining good standards of public hygiene remain high amidst Singapore’s international reputation as a Clean and Green city.

That said, the tight labour market and ageing workforce in Singapore compel forward-looking enterprises like SMRT Trains to adopt new technologies like SIMPPLE’s robotics to complement an already manpower-lean workforce while enabling existing staff to focus on more complex tasks.

As part of the contract to work in tandem with the cleaning workforce, SIMPPLE also trained the cleaners at the MRT stations to operate robots, analyse robot-collected data, and project trends to optimise workflows to maximise efficiency.

Over the past months, SMRT Trains has witnessed a cleaner environment and a more productive workforce as these autonomous cleaning robots clean a defined area three times faster than workers, which in turn frees up time for them to focus on restroom cleanliness and productive task assignments.

-- BERNAMA

SAUDI ARABIA KICKS OFF 28TH WORLD INVESTMENT CONFERENCE

KUALA LUMPUR, Nov 25 (Bernama) -- The 28th annual World Investment Conference (WIC) is taking place in Riyadh for three days until Nov 27, gathering global leaders in investment, government, and international organisations.

Held under the patronage of His Royal Highness Crown Prince and Prime Minister Mohammed bin Salman bin AbdulAziz Al Saud, WIC is organised by the World Association of Investment Promotion Agencies (WAIPA) and Invest Saudi, exploring the theme ‘Harnessing Digital Transformation and Sustainable Growth: Scaling Investment Opportunities’.

“This year’s World Investment Conference in Riyadh will be a platform for sharing our nation’s strategic vision with our partners, and an invaluable opportunity to highlight our status as a trusted partner for sustainable economic growth.

“We look forward to welcoming investment leaders from around the world to forge partnerships that will benefit both the Kingdom and global economies,” said Saudi Arabia Minister of Investment, Khalid Al-Falih.

Key highlights of WIC 2024 will include a range of conference tracks, such as high-level government dialogues, insightful sessions on technology, sustainability, and economic cooperation, as well as practical masterclasses for investment professionals, according to a statement.

A dedicated entrepreneurship track will emphasise the transformative role of startups and innovators, while exclusive matchmaking sessions will facilitate strategic partnerships between investors, small and medium enterprises (SMEs), and potential collaborators.

Participants will also have the opportunity to celebrate the achievements of Investment Promotion Agencies through the Awards Track, honouring innovation and excellence in investment facilitation.

This year’s WIC promises to be a pivotal forum aligned with global investment drivers, including the disruptive influence of technology and artificial intelligence, global supply chain resilience, and energy transition towards sustainability.

With its focus on scaling investment opportunities, WIC 2024 is designed to empower attendees with the tools, knowledge, and connections necessary to drive meaningful economic impact.

-- BERNAMA

BEST'S MARKET SEGMENT REPORT: AM BEST MAINTAINS POSITIVE OUTLOOK ON DELEGATED UNDERWRITING AUTHORITY ENTERPRISES SEGMENT

OLDWICK, N.J., Nov 22 (Bernama-BUSINESS WIRE) -- AM Best is maintaining its market segment outlook for the delegated underwriting authority enterprise (DUAE) segment at positive, citing its sustained growth and niche expertise, despite potential issues that could arise from capacity challenges and rapid growth.

The DUAE distribution channel continues to increase its market share, supported by strong and sustained premium growth globally. According to the Best’s Market Segment Report, “Market Segment Outlook: Delegated Underwriting Authority Enterprises,” capacity for the DUAE segment has benefited from ongoing material growth in the excess and surplus (E&S) market, as elevated catastrophe activity and the regulatory environment continue to direct more premiums into surplus line businesses.

“The general optimism among insurers and reinsurers about DUAEs persists, with more strategic partnerships being formed between carriers and DUAEs,” said Yizhou Hong, senior financial analyst, AM Best. “These partnerships are generally longer-term and allow capacity support across lines of business, industries, and geographies, instead of simply by program.”

The DUAE segment’s growing niche expertise is aligned with the insurance industry’s growing demand for specialty products, with investments in technology and talent serving as positive growth drivers. However, the report strikes a cautionary note on the segment’s strengthening ties to E&S and fronting sectors, given the potential for greater dependence on reinsurers and reinsurance.

Reinsurance capacity constraints can negatively affect the DUAE market in the form of capacity tightening, compressed commission income, and narrowing underwriting margins, as well as weakened bottom-line performance. In addition, DUAEs find themselves with rising exposures to reinsurer credit risk and concentration risk. 

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CARGILL TRANSFORMS SINGAPORE INNOVATION CENTER TO MEET EVOLVING ASIAN FOOD CONSUMPTION NEEDS

Supported by the Singapore Economic Development Board and Enterprise Singapore, the refurbishment will enable Cargill to serve the booming foodservice sector and demand for indulgent foods

SINGAPORE, Nov 21 (Bernama-BUSINESS WIRE) -- To advance innovation and further contribute to Asia’s vibrant food ecosystem, Cargill is bolstering the capabilities of its Singapore Innovation Center, supported by the Singapore Economic Development Board (EDB) and Enterprise Singapore.

Expected to be completed by early 2025, the enhancements will enable Cargill to better collaborate with its food manufacturing, foodservice and retail customers in Singapore and across the region to develop innovative foods that meet Asian consumer trends. By establishing and augmenting new and existing innovation capabilities, as well as strengthening external innovation with customers, suppliers and other partners, the transition of the center will also provide opportunities for customers to grow and expand, be it locally, regionally or globally, by leveraging Cargill’s extensive network and regional strength.

According to Cargill’s 2024 proprietary APAC TrendTracker study, health and wellness are top of mind for Asian consumers when making diet and lifestyle choices. At the same time, consumers also enjoy indulging in food and beverages while seeking guilt-free pleasures, novelty and elevated sensory experiences. Last but not least, the rise of the middle-class across Asia with consumers enjoying greater spending power while also wanting more convenience in their busier lives is driving strong growth in the foodservice and HORECA (Hotel, Restaurant, Café/Catering) sectors as dining out, takeaways and food deliveries become increasingly popular. 

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