Welspun One Logistics Park to invest ₹2,000 crore in warehousing facilities in Uttar Pradesh

The company said that it has signed a Memorandum of Understanding (MoU) with the Government of Uttar Pradesh (UP) to broaden its presence in the warehousing sector in North India.

The MoU was signed at the UP Global Investors Summit 2023 which was held on 10-12 February 2023 in Lucknow.

Uttar Pradesh is aiming to become a $1 trillion economy and the logistics and warehousing sector has been identified as a priority sector to help achieve this goal.

”Welspun is looking to effectively utilize government and private land parcels in Lucknow to build one Grade A warehouse facilities and logistics parks. WOLP will invest 2,000 crore in the state of Uttar Pradesh with the association of this association,” the company said in a statement.

The warehousing facilities and logistics park will be spread over about 6 million sq ft and will be built over 3-4 years which will help generate 6,000 jobs.

“Our investment of Rs 2,000 crore not only paves the way for Welspun One to expand into the growing warehousing and logistics market, but also reflects our continued dedication to the Indian economy. Balkrishna Goenka, Chairman, Welspun Group said, “The industry is undergoing a sea change as more emerging sectors and other businesses create increasing demand.

“This collaboration will further our fundamental goal of developing state-of-the-art facilities of greatest capacity and help us take the next leap forward. We truly appreciate the active support of the Government of UP as we scale up our operations “

“We are delighted to contribute to the logistics market of UP by building high-performing and highly efficient Grade A warehouses and logistics parks. Welspun One Logistics Park Managing Director Anshul Singhal said, “We are really thankful to the Government of Uttar Pradesh for supporting us in getting the necessary clearances and approvals, which will help us in expediting the construction process.