Welspun One Logistics Parks inks pact with UP govt to invest Rs 2,000 cr

New Delhi: Welspun One Logistics Parks has signed a pact with the Uttar Pradesh government for investment of Rs 2,000 crore to develop warehousing and logistics parks in the state.

In a statement, the company said 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.

"Welspun One seeks to effectively utilise government and private land parcels in Lucknow for the construction of Grade A warehouse facilities and logistics parks. WOLP would invest Rs 2,000 crore in the state of Uttar Pradesh with the support of this association," it said.

The warehousing facilities and logistics parks will be spread across about 6 million square feet and will be built over 3-4 years which will help generate 6,000 jobs.

Welspun One Logistics Parks is an integrated fund, development, and asset management organisation, designed to deliver large format, institutional Grade-A logistics parks across India. It is the warehousing platform of the USD 2.3 billion Welspun Group.