A Memorandum of Understanding (MoU) has been signed between the government of Karnataka and Welspun One Logistics Parks (WOLP), an integrated fund development and asset management firm, to increase WOLP’s footprint in the South Indian warehousing market.
With the aid of this partnership, the corporation wants to invest a total of Rs 2,000 crore in Karnataka. Over a five-year period, 6.28 million square feet will be devoted to the construction of the warehouses and logistics parks, which will result in the creation of more than 6,000 jobs.
Welspun One can now enter the expanding warehouse and logistics market thanks to our investment of Rs 2,000 crore, which also amply reflects our continuous commitment to the Indian economy. As more growing industries and other businesses generate greater demand, this industry is undergoing a significant shift, according to Balkrishan Goenka, chairman of the Welspun Group.
As stated in a press release from the firm, Welspun One aims to efficiently utilise public and private land parcels in Karnataka for the development of Grade A storage facilities and logistics parks.
With this MoU, Welspun One intends to considerably improve the standard of the sector’s operations in South India as a stepping stone to larger projects, according to Anshul Singhal, managing director of Welspun One Logistics Parks.
