Welspun inks deal with Karnataka for logistics park
WAREHOUSING & LOGISTICS

Welspun inks deal with Karnataka for logistics park

Welspun One Logistics Parks (WOLP), an integrated fund, development and asset management organisation, has entered into a Memorandum of Understanding (MoU) with the government of Karnataka to broaden its presence in the warehousing sector in South India.

The company intends to spend a total of Rs 20 billion in Karnataka with the support of this association. The warehousing facilities and logistics parks will be spread across 6.28 million sq ft and will be built over a five-year period, helping generate more than 6,000 jobs.

“Our investment crore 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 industry is going through a major transformation as more emerging sectors and other businesses create increasing demand,” said Balkrishan Goenka, Chairman, Welspun Group. Welspun One seeks to effectively utilise government and private land parcels in Karnataka for the construction of Grade A warehouse facilities and logistics parks, the company said in a release.

“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,” said Anshul Singhal, Managing Director, Welspun One Logistics Parks.

The MoU was signed at the Invest Karnataka: Global Investors’ Meet in Bangalore.

See also:
Warehousing demand to hit all-time high by year-end: experts
Actis, Mahindra Lifespaces tie-up for logistics realty


Welspun One Logistics Parks (WOLP), an integrated fund, development and asset management organisation, has entered into a Memorandum of Understanding (MoU) with the government of Karnataka to broaden its presence in the warehousing sector in South India. The company intends to spend a total of Rs 20 billion in Karnataka with the support of this association. The warehousing facilities and logistics parks will be spread across 6.28 million sq ft and will be built over a five-year period, helping generate more than 6,000 jobs. “Our investment crore 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 industry is going through a major transformation as more emerging sectors and other businesses create increasing demand,” said Balkrishan Goenka, Chairman, Welspun Group. Welspun One seeks to effectively utilise government and private land parcels in Karnataka for the construction of Grade A warehouse facilities and logistics parks, the company said in a release. “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,” said Anshul Singhal, Managing Director, Welspun One Logistics Parks. The MoU was signed at the Invest Karnataka: Global Investors’ Meet in Bangalore. See also: Warehousing demand to hit all-time high by year-end: expertsActis, Mahindra Lifespaces tie-up for logistics realty

Next Story
Infrastructure Transport

Odisha to Get Kharagpur-Visakhapatnam Expressway Soon: Minister

A new greenfield highway connecting Kharagpur in West Bengal and Visakhapatnam in Andhra Pradesh, passing through Odisha, is set to be constructed soon. This expressway is poised to become a vital logistics corridor, enhancing high-speed transportation in the region. Works Minister Prithviraj Harichandan shared that preliminary preparations for the project have already commenced. He emphasised that the expressway would play a crucial role in the Gati Shakti Framework of the Central government, describing it as a groundbreaking initiative in road construction for Odisha. Greenfield roads typi..

Next Story
Infrastructure Urban

LTTS wins project to develop smart cities in Colorado USA

Mid-sized Indian IT services company L&T Technology Services (LTTS) announced on Monday a strategic partnership with the Colorado Smart Cities Alliance (CSCA) to develop smart city projects across Colorado by integrating innovation and technology. In a regulatory filing, LTTS stated that the collaboration would utilize its advanced engineering expertise to support CSCA's mission of enhancing urban living and creating sustainable ecosystems through smart city solutions. The partnership aims to develop sustainable, efficient, and technologically advanced communities by pooling resources and exp..

Next Story
Infrastructure Transport

Bengaluru Metro to Expand to 175 km by 2026, Boosting Urban Mobility

Bengaluru’s metro network is set for a major expansion, aiming to extend its total length to 175 km by 2026. This ambitious project is part of the Namma Metro initiative, designed to improve connectivity across the city, alleviate traffic congestion, and promote sustainable urban mobility. The expansion involves constructing new metro corridors, such as the Purple Line and the Outer Ring Road-Airport Line, which will link major city hubs, commercial centres, and residential areas. This development is expected to enhance accessibility for commuters throughout Bengaluru. A key highlight of t..

Hi There!

"Now get regular updates from CW Magazine on WhatsApp!

Join the CW WhatsApp channel for the latest news, industry events, expert insights, and project updates from the construction and infrastructure industry.

Click the link below to join"

+91 81086 03000