Welspun One Logistics Parks inks MoU with Haryana govt, promises to invest Rs1500 crores

Welspun One Logistics Parks (WOLP) is now looking to expand its footprint in the north and has signed a Memorandum of Understanding (MoU) with the Government of Haryana. The integrated fund, development, and asset management platform that is part of the USD 2.7 billion Welspun Group - aims to explore the available government land parcels for building Grade A warehousing facilities across key warehousing micro-markets. WOLP will bring in a total investment of Rs 1500 crores in the state. The development potential through the deal is approximately of 5 million sq. ft. to be built over a 3-4 year period which will help generate more than 4500 jobs.

Forged with the shared vision of enriching the logistics infrastructure, this understanding marks a deep-seated long-term relationship between Welspun One Logistics Parks and the Government of Haryana. With the collective investment generating substantial social and economic benefits, the state government has assured its complete support to WOLP facilitating overall ease of doing business. In tandem with this, they will enable a smooth running of approval processes and single-window clearances for projects undertaken by WOLP. Furthermore, the state government has assigned a dedicated relationship manager to ensure that all operations are time-bound and carried out seamlessly. In turn, WOLP is committed to providing high-performing, sustainable, and world-class warehousing solutions by effectively integrating leading-edge technology with green infrastructure.

Anshul Singhal, Managing Director, Welspun One Logistics Parks, said, "We are thankful to the Haryana government for its wholehearted support and guidance with the necessary approvals, registrations, as well as fast-tracking process. After collaborating with the Tamil Nadu government to invest Rs 2500 crores in the state, which is progressing well, we are now pleased to start strengthening our presence in the North. With Haryana experiencing an e-tailing boom, there exists an untapped potential for the growth of warehousing. Bearing this in mind, we drew a plan to develop a sustainable ecosystem of state-of-art Grade A warehousing services, this will drive efficiencies and unlock value in the supply chains of businesses, all while expanding the warehousing sector in the state."

Vijayendra Kumar, IAS Principal Secretary Industries and Commerce, Govt. of Haryana said, "Haryana is an emerging warehousing hub in NCR and a key consumption market due to its strategic location intersecting with economic corridors. Further, the State's Logistics Policy enables a conducive environment for the Logistics and Warehousing Sector. We are pleased to welcome investment of Welspun One Logistics Parks in the State of Haryana and assure them of all the necessary support for an early grounding of investment."

Welspun One aims to support the overall growth and up-gradation of India's logistics sector and play a significant role in its continuous expansion with technologically modernized and improved warehousing infrastructure.