Welspun One Logistics Parks (WOLP) signed a Memorandum of Understanding (MoU) with the Government of Karnataka during the Invest Karnataka: Global Investors’ Meet, to broaden its presence in the warehousing sector in South India. Honorable Prime Minister Shri Narendra Modi was the Chief Guest and the event was also attended by Smt. Nirmala Sitharaman, Shri Piyush Goyal among others.
Welspun One seeks to effectively utilise government and private land parcels in Karnataka for the construction of Grade A warehouse facilities and logistics parks. They intend to spend a total of INR 2,000 crores in Karnataka with the support of this association. The warehousing facilities and logistics parks will spread across 6.28 million sq. ft. and will be built over a 5 year period which will help 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. This association will boost our fundamental goal of developing cutting-edge facilities of the greatest calibre and aid us in taking the next leap forward. We are really appreciative of the Karnataka government’s proactive support as we grow our operations.”Balkrishan Goenka, Chairman, Welspun Group
The state of Karnataka has shown its support by committing to assist Welspun One Logistics Parks with relevant registrations, necessary permissions, approvals and clearances as per prevailing policies from the concerned departments of the State. This will assure the smooth running of the operations undertaken by the company. To help Karnataka’s logistics industry flourish, WOLP in turn, will effectively supply leading, best-in-class warehouse facilities.