Welspun One Logistics Parks (WOLP), a fund and development management platform, has joined forces with Montra Electric, the electric vehicle (EV) division of the Murugappa Group, to construct a custom-built warehousing and assembly space spanning 300,000 sq. ft in Chennai, Tamil Nadu.
The mixed-use facility is set to commence operations by the second quarter of 2024 and offers ample parking for efficient operations. Positioned along India’s eastern coast, this logistics park has excellent rail and road connectivity and is close to major seaports in Chennai and Ennore, establishing it as a distribution and connectivity hub.
The development also includes Montra Electric’s retail experience center and assembly space for small commercial four-wheeler EVs. WOLP is responsible for delivering this mixed-use facility according to Montra Electric’s specifications and schedule.
The project is part of a Rs 2,500 crore memorandum of understanding between Welspun and the Tamil Nadu government. The company plans to expand its portfolio to 16-18 million sq. ft. in the next four to five years, investing over Rs 8,000 crore to grow its assets under management (AUM) to USD one billion.
