Welspun One Logistics Parks (WOLP) said that it has secured a deal with the Haryana government to build warehousing facilities in the state, for which it would invest almost Rs 1,500 crore. The business has inked a memorandum of understanding with the Haryana government to investigate possible government land parcels for the construction of Grade A storage facilities in major warehousing micro-markets.
“WOLP will bring in a total investment of Rs 1,500 crore in the state. The development potential through the deal is approximately of 5 million sq ft to be built over a three-four-year period which will help generate more than 4,500 jobs,” the company said in a statement.
The cooperation was formed with the goal of improving logistics infrastructure, and it represents a deep and long-term engagement between Welspun One Logistics Parks and the Haryana government, according to the statement.
“After collaborating with the Tamil Nadu government to invest Rs 2,500 crore in the state, which is progressing well, we are now pleased to start strengthening our presence in the north. With Haryana experiencing an e-tailing boom, there exists an untapped potential for the growth of warehousing,” Welspun One Logistics Parks Managing Director Anshul Singhal said.
He went on to say that the company intends to build a sustainable ecosystem of state-of-the-art Grade A storage services to increase efficiency and unlock value in businesses’ supply chains, all while boosting the state’s warehousing industry. The Haryana government has designated a dedicated relationship manager as part of this deal to guarantee that all procedures are completed on schedule and without glitches.
