South African Newlyn Group Secures 5 Billion Rand for Logistics Development

en.Wedoany.com Reported - Newlyn Group has recently secured 5 billion rand in financing from Absa Corporate and Investment Banking, which will be used to develop logistics infrastructure along South Africa's major freight corridors.

The port logistics and infrastructure developer stated that the comprehensive financing package will support its national project pipeline, covering coastal and inland logistics centers. Newlyn Group founder and CEO Rajendra Balmakhun noted that this funding provides liquidity to expand the company's development activities while maintaining its balance sheet strength.

Balmakhun said that Absa CIB customized a real estate solution with favorable terms for Newlyn Group, releasing liquidity to support scaled growth. The company has been investing in and developing port logistics infrastructure in South Africa since 1996. Its portfolio includes 32 logistics parks and properties with a total leasable area exceeding 1.3 million square meters, in addition to 2 million square meters of land reserves and 200,000 square meters of projects under construction.

The company pointed out that its development pipeline involves logistics facilities at key coastal and inland freight hubs, as well as bulk terminal development projects aimed at improving efficiency in the bulk logistics sector.