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Welspun To Invest Around Rs 2500 Crore To Build Warehouses In Tamil Nadu

Welspun One Logistics Parks, a pan-India integrated fund, development and asset management platform, a part of the $3.5 billion Welspun Group, has signed an MoU with Guidance, the Government of Tamil Nadu’s nodal agency, for investment promotion and single window facilitation. This is towards setting up warehousing facilities across Tamil Nadu. The projects will be executed by Welspun One Logistics Parks and will bring direct investments of around Rs 2,500 crore to the State. Under this MoU, a total of six projects have been proposed in the prime warehousing micro-markets like Hosur, Sriperumbudur and Tiruvallur; totalling a development potential of around 8 million sqft, to be built across a span of five years. Considering the tangible social and economic benefits that the investments entail, the state government has assured support in streamlining the approval processes and single-window clearances for Welspun-initiated projects to facilitate the overall ease of doing business. The Welspun group company, in turn, is determined to provide high-impact sustainable warehousing solutions by incorporating green infrastructure and an industry-led technology approach.