With an investment of Rs 700 crore, Welspun One Logistics Parks (WOLP), an integrated fund and development warehousing platform in a joint venture with GRT Group, would build two grade-A warehouse complexes in Tamil Nadu.
Welspun stated in a statement that the projects are being constructed as part of an agreement with the Tamil Nadu government to invest roughly Rs 2,500 crore in the state over the course of five years.
In addition to being the first investment made by WOLP Fund 1, which had a target size of Rs 500 crore, the first project is being built through a 50:50 joint venture between GRT Group and WOLP.
The second project is being developed by WOLP for GRT Group under a “development management” agreement, the company said.
