The fund will aid in the development of India's first integrated logistics city project on a 400 acre site in Navi Mumbai.
Khaleeji Commercial Bank is 60 per cent owned by a group of regional strategic investors and 37 per cent by its founding shareholder, Gulf Finance House.
"Global Logistix stands to play an integral part in Navi Mumbai. We are looking forward to sustaining this important endeavour as it will aid the infrastructure and logistics industry development that is sorely needed in that region of the world, the bank's CEO and board member Ebrahim H Ebrahim said.
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, organised, all inclusive logistics park in Navi Mumbai and its surrounding areas.
"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 minimise their operational costs, Ebrahim said in a statement.
"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 per cent of the country's total retail opportunities within its borders," he added.
