The projects will be executed by Welspun One and will bring direct investments of about ₹2500 crore to the southern state
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Bengaluru: Welspun One Logistics Parks (WOLP), part of the Welspun Group, on Tuesday said it has signed an agreement with Guidance - the Tamil Nadu government’s nodal agency - for investment promotion and single-window facilitation to set up warehousing facilities.
The projects will be executed by Welspun One and will bring direct investments of about ₹2500 crore to the southern state. Six projects have been proposed in warehousing markets such as Hosur, Sriperumbudur and Thiruvallur, with a development potential of 8 million sq ft to be built over five years.
"We are looking at developing approximately 400 acres of land in Tamil Nadu to build top-class, warehousing facilities. With every project, we aim to create a social impact and these projects have the potential to create over 8000 jobs," said Anshul Singhal, managing director, Welspun One Logistics Parks.
Pooja Kulkarni, managing director and CEO, Guidance, said, "Over the past few years, India has made significant progress by building logistics infrastructure and undertaking various regulatory and structural reforms. Before the GST regime, most companies had multiple, small warehouses across states for the sole purpose of minimizing taxes. The introduction of GST allowed firms to start focusing on building efficient supply chain networks by establishing optimal-sized warehouses in fewer locations. We are happy to associate with Welspun One Logistics Parks to help Tamil Nadu set new standards in creating logistics infrastructure."
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