India News | Welspun One Signs MoU with K'taka Govt to Invest Rs 2,000 Crore

Bengaluru, Nov 3 (PTI) Welspun One Logistics Parks (WOLP), an integrated fund, development and asset management organisation, on Thursday said it has signed a memorandum of understanding (MoU) with the government of Karnataka to invest Rs 2,000 crore and aims to create over 6,000 jobs.

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The company plans to broaden its presence in the warehousing sector in South and signed the MoU at the ongoing Invest Karnataka: Global Investors' Meet.

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Welspun One seeks to utilise government and private land parcels in the State for the construction of Grade 'A' warehouse facilities and logistics parks, the company said in a release.

WOLP said the warehousing facilities and logistics parks would spread across 6.28 million sq. ft. and be built over a 5-year period which would generate more than 6,000 jobs.

"Our investment of INR 2,000 crores not only paves the way for Welspun One to expand into the growing warehousing and logistics market but also significantly demonstrates our ongoing dedication to the Indian economy," said chairman of Welspun Group Balkrishan Goenka.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)