Latest News | Welspun One Logistics Parks Plans Rs 2,500 Cr Investment in Tamil Nadu
Get latest articles and stories on Latest News at LatestLY. Welspun One Logistics Parks (WOLP) plans to invest about Rs 2,500 crore in Tamil Nadu to set up six warehousing projects in the state.
New Delhi, Nov 23 (PTI) Welspun One Logistics Parks (WOLP) plans to invest about Rs 2,500 crore in Tamil Nadu to set up six warehousing projects in the state.
The company said in a statement that it has signed a Memorandum of Understanding (MoU) with Guidance, the Government of Tamil Nadu's nodal agency, for investment promotion and single window facilitation.
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This is towards setting up warehousing facilities across the state.
"The projects will be executed by Welspun One Logistics Parks and will bring direct investments of approximately Rs 2,500 crore to Tamil Nadu," the company said.
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Under this MoU (Memorandum of Understanding), a total of six projects have been proposed in prime warehousing micro-markets like Hosur, Sriperumbudur and Thiruvallur; totalling to a development potential of approximately 8 million square feet to be built across a span of five years.
Welspun One Logistics Parks is an integrated fund, development, and asset management platform, part of the USD 3.5 billion Welspun Group.
Commenting on the collaboration, Anshul Singhal, Managing Director, Welspun One Logistics Parks said, "We are extremely pleased to announce the signing of this MoU with the Government of Tamil Nadu. As per our blueprint, 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."
(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)