Welspun to invest ₹1,500 cr on warehousing parks in Haryana
1 min read 14 Mar 2022, 01:11 PM ISTWelspun One Logistics Parks has signed a memorandum of understanding with the Haryana government, with a development potential of around 5 million sq ft to be built over 3-4 years which will help generate more than 4500 jobs
PremiumBENGALURU : Welspun One Logistics Parks (WOLP), part of the $2.7 billion Welspun Group, on Monday said it will expand its footprint in north India, by exploring available government land parcels for building Grade A warehousing facilities across key micro-markets.
The company has signed a memorandum of understanding (MoU) with the Haryana government, with a development potential of around 5 million sq ft to be built over 3-4 years which will help generate more than 4500 jobs. It will invest around ₹1500 crore.
The state government has assigned a dedicated relationship manager to ensure that all operations are time-bound and carried out seamlessly.
“…After collaborating with the Tamil Nadu government to invest ₹2500 crore in the state, which is progressing well, we are now pleased to start strengthening our presence in the north. With Haryana experiencing an e-tailing boom, there exists an untapped potential for the growth of warehousing. Bearing this in mind, we drew a plan to develop a sustainable ecosystem of state-of-art Grade A warehousing services, this will drive efficiencies and unlock value in the supply chains of businesses, all while expanding the warehousing sector in the state," said Anshul Singhal, managing director, Welspun One Logistics Parks.
WOLP recently forayed into north India with the acquisition of two land parcels in Lucknow, Uttar Pradesh and Farukhnagar in Haryana. The development that entails a cost of ₹180 crore will be executed under Welspun One’s first Alternate Investment Fund.
Vijayendra Kumar, principal secretary, Industries and Commerce, Govt. of Haryana, said, “Haryana is an emerging warehousing hub in NCR and a key consumption market due to its strategic location intersecting with economic corridors. Further, the state’s logistics policy enables a conducive environment for logistics and warehousing Sector. We are pleased to welcome investment of Welspun One Logistics Parks in the State of Haryana and assure them of all the necessary support for an early grounding of investment."
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