Welspun One has signed a preliminary agreement with the Tamil Nadu government for a proposed Rs 2,000-crore investment in the state over the next five years.

In a statement, Welspun said,"The second pact signed at the Tamil Nadu Global Investors' Meet 2024, outlines Welspun One's commitment to drive the proposed development of industrial and logistics parks with an estimated investment outlay of Rs 2,000 crore over the next five years."

Welspun World Chairman Balkrishan Goenka said,"Welspun One's ongoing commitment to invest in Tamil Nadu reflects a collaborative spirit and a common resolve to meet all mutually agreed obligations, guided by the facilitation of Guidance, the pivotal agency of the Tamil Nadu government for investment promotion."

"Our first MoU with the Tamil Nadu government laid a strong foundation, and we are on track with our investments as per the initial agreement," said Anshul Singhal, Managing Director at Welspun One.

With these two pacts, Welspun One's cumulative investment in Tamil Nadu is set to rise to Rs 4,500 crore, the company said.