Welspun invests Rs. 900 Crores in warehouse infrastructure near Mumbai

Welspun invests Rs. 900 Crores in warehouse infrastructure near Mumbai. It has sought approval from the Maharashtra government.

Welspun invests Rs. 900 Crores in warehouse infrastructure near Mumbai. Welspun invests One Logistics has sought approval from the Maharashtra government. To build a 110-acre warehousing park close to the Mumbai Metropolitan Region (MMR). The Economic Times reported.

The company plans to invest Rs 900 crore in the project. Which is situated in Bhiwandi, the project is planned on a leasable land area of 3.2 million square feet owned by Group promoters – the Goenkas.

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Welspun Group Chairman BK Goenka told Economic Times that in the current context, i.e. COVID-19 pandemic, they are optimistic that this is one of the asset classes which would provide “both attractive development returns and stable long-term yields.”

According to Anshul Singhal, Managing Director Welspun One. As well as FMCG, consumer goods, e-commerce and pharmaceutical clients among others. The company has also received. Interest from foreign and domestic private equity (PE) investors, he added.

The infrastructure is estimated to be operational by October, 2021.

Therefore, Promoters of Mumbai-based conglomerate Welspun Group has acquired. A majority stake in One Industrial Spaces. Which is an integrated real estate fund in December 2019. Furthermore, with the plan to develop 30 acre to 100 acre Grade A warehousing parks cross India.