Financial services firm Absa Corporate and Investment Banking has increased the financing facilities for logistics and industrial infrastructure developer Newlyn Group to R5.1-billion.
Newlyn focuses exclusively on infrastructure that improves the efficiency of national supply chains through strategically located logistics parks, multimodal freight facilities and bespoke port-related developments.
It owns and manages a portfolio of 32 logistics assets comprising more than 1.3-million square metres of gross lettable area, while maintaining a strategic 24 ha landbank that positions it for future growth.
Its developments are designed to reduce logistics costs, improve operational efficiency and strengthen the competitiveness of businesses operating in South Africa’s freight economy.
The Newlyn PX Bayhead Rail Terminal, adjacent to the Port of Durban, and its planned back-of-port logistics infrastructure in Coega projects are part of a development strategy aligned with national freight logistics reforms and government’s objective of shifting greater volumes from road to rail.
