WOLP signs MoU worth INR 2000 Crores to develop logistics parks

Welspun One Logistics Parks (WOLP) announced the signing of its second Memorandum of Understanding (MoU) with the Tamil Nadu Government, solidifying its commitment to the state’s economic development. This strategic move entails an investment of INR 2000 Crores over the next 5 years and follows a successful INR 2500 Crore MoU inked in 2021. The new MoU, signed at the Tamil Nadu Global Investors Meet 2024, outlines Welspun One’s commitment to drive the proposed development of industrial and logistics parks with an estimated investment outlay of INR 2000 Crores over the next 5 years. This initiative is expected to generate direct employment opportunities for 5000 people and contribute to the development of ancillary industries, creating indirect employment opportunities for 10,000 people. This signifies the Tamil Nadu Government’s support for Welspun One beyond the financial commitment. It encompasses essential infrastructural and regulatory support, prioritizing uninterrupted power supply and other infrastructure assistance on a best-effort basis. The agreement underscores a mutual dedication to fulfilling of agreed-upon obligations, facilitated by Guidance, the nodal agency for investment promotion and facilitation under the Government of Tamil Nadu.