Welspun One to invest Rs 2,000 crores in Karnataka

Bengaluru: Welspun One Logistics Parks (WOLP), an integrated fund, development and asset management organization, said on Thursday that it intends to spend a total of Rs 2,000 crores in Karnataka, under an MoU signed by the state government.
The MoU was signed at Invest Karnataka.
Welspun One seeks to effectively utilize government and private land parcels in Karnataka for the construction of Grade A warehouse facilities and logistics parks.
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 Rs 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,” Welspun Group Chairman Balkrishan Goenka said.
“We are really grateful to the Government of Karnataka for enabling us to obtain the necessary clearances and approvals, which will help us expedite the construction process.
“As a stepping stone to bigger developments, Welspun One seeks to significantly raise the standard of the sector’s operations in South India with this MoU,” Welspun One Logistics Parks Managing Director Anshul Singhal said. (UNI)