Welspun unveils a ₹900-cr warehousing project

To build top-class product stocking facilities, One Logistics Parks (WOLP) has decided to invest over ₹900 crore to develop a 110-acre warehousing park in Bhiwandi on the outskirts of Mumbai. The project, with a leasable area of 3.2 million sq ft, is located on a contiguous land parcel owned by the promoters of Welspun Group, the Goenkas. The integrated fund, asset and development management company has entered into a pact with the government of Maharashtra for this project and the necessary approvals are being sought under the Integrated Logistics Parks (ILP) policy. B.K. Goenka, the Chairman, informed that this development has cemented the focus in the warehousing sector and the company is optimistic in viewing this as one of the only asset classes to provide both attractive development returns and stable long-term yields and the park is well suited to meet the requirements of a large number of end-users including e-commerce, third party logistics (3PL), fast-moving consumer goods (FMCG) and consumer durables (FMCD), modern retail, pharmaceutical and large occupiers.