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Khaleeji Commercial Bank announced its newest investment fund: Global Logistix Navi Mumbai Investment Company with a target capital of $430 million.
The fund will support the development of India's first integrated logistics city project on a 400 acre site in Navi Mumbai, Maharashtra.
Ebrahim H Ebrahim, CEO and board member of Khaleeji Commercial Bank said: "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 concept is being driven by the need for a large scale, organised, all inclusive logistics park in Navi Mumbai and its surrounding areas.
Mr Ebrahim said: "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."
