Welspun One to develop two warehouse projects in Tamil Nadu with an investment of Rs 700 crore
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Welspun One
The company gave this information on Tuesday. In this regard, WOLP had entered into an initial agreement with the Tamil Nadu government in November last year. Under this agreement, the platform will invest around Rs 2,500 crore in the state over a period of five years.
Mumbai Integrated fund and development management platform Welspun One Logistics Parks (WOLP) in a joint venture with GRT Group will develop two warehouse projects in Tamil Nadu with an investment of Rs 700 crore. The company gave this information on Tuesday. In this regard, WOLP had entered into an initial agreement with the Tamil Nadu government in November last year. Under this agreement, the platform will invest around Rs 2,500 crore in the state over a period of five years.
The company said that each park will be spread over 60 acres of land and 1.3 million square feet of area can be developed in it. It informed that the first ‘A’ category warehouse project is being developed in a 50:50 joint venture between GRT Group and WOLP. WOLP said these projects would see a total investment of Rs 700 crore and generate 3,000 jobs during the development phases.
Disclaimer:IndiaTheNews has not edited this news. This news has been published from PTI-language feed.
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