Title: Ternova Group Announces $100 Million Investment in New Logistics Park
Date: Jul 19, 2023
By Juan Carlos Mejia
Ternova Group, a prominent company in El Salvador, has unveiled plans for a new logistics park in the municipality of Nejapa. The project, called Nneo Smart Properties, is expected to commence construction in August 2024 and become operational in the same month, marking a significant milestone for the region.
The CEO of Ternova Group, Rodrigo Tona, revealed that the project has been four years in the making, involving meticulous planning and preliminary studies. The company has partnered with two international firms, LatAm Logistic Properties and Cushman & Wakefield, to execute the project efficiently.
With an investment of up to $100 million, the logistics park will cover an expansive area of 100,000 square meters. It will include four logistics warehouses of varying sizes, providing a total storage space of over 50,700 square meters. Notably, the warehouses will boast heights of up to 12 meters, enabling more efficient storage per square meter than conventional facilities.
Rodrigo Tona expressed his confidence in the project, stating, “Nneo Nejapa will be the most efficient cargo mobility logistics infrastructure park in Central America.” He emphasized Ternova’s extensive experience in worldwide infrastructure and product mobility, which led to the identification of a transformative opportunity for logistics operations in the Northern Triangle.
Market experts from Cushman & Wakefield anticipate strong interest from companies eager to establish their storage centers within Nneo logistics park. Unicomer, a prominent home appliance retailer in the region, has already contracted nearly half of the largest warehouse in the project. Other major corporations such as Amazon and Mercado Libre are also considering the park for their storage needs.
The strategic location of the Nejapa logistics park enhances its appeal. It offers convenient access to various transportation routes, enabling swift connections to points of interest for companies utilizing Nneo’s services. This advantage positions the park as an ideal solution for e-commerce distribution, with Nejapa positioned to reach any point of consumption within an hour.
The project is set to create a significant number of employment opportunities. During the construction phase, up to 800 direct jobs will be generated, and once operational, it is estimated that the logistics park will employ approximately 1,000 individuals.
Ternova Group’s investment in the Nneo Smart Properties project highlights the company’s commitment to developing cutting-edge logistics infrastructure in El Salvador. With construction set to begin next August, stakeholders eagerly anticipate the economic and logistical benefits that will ensue from this venture.