Inked pact to invest ₹2,000 crore in logistics facilities

Welspun One Logistics Parks (WOLP) has signed a pact with the Karnataka government to set up warehousing facilities and logistics parks in the state at an investment of ₹2,000 crore. “WOLP intends to spend a total of INR 2,000 crores in Karnataka with the support of this association. 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,” the company said in a statement. Balkrishan Goenka, Chairman, Welspun Group, said, “Our investment of INR 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. This industry is going through a major transformation as more emerging sectors and other businesses create increasing demand. This association will boost our fundamental goal of developing cutting-edge facilities of the greatest calibre and aid us in taking the next leap forward. We are really appreciative of the Karnataka government’s proactive support as we grow our operations.”