Welspun acquires 22 acres of land for new logistics park

Textiles business Welspun World’s warehousing platform Welspun One has acquired a 22 acre plot of land on the Gurugram NH8 corridor and plans to develop a logistics park in the vicinity with an earmarked investment of Rs 125 crore.

The land is located on the Bilaspur-Tauru Road and is part of the business’ plan to launch state-of-the-art warehousing solutions, India Retailing reported. The business expects that the development will generate employment for between 1,200 and 1,500 people in the surrounding areas and the deal was facilitated by property consulting business JLL India.
 
“This acquisition marks a significant step in expanding our footprint in one of India’s vital logistics corridors,” said Welspun One’s managing director Anshul Singhal, India Retailing reported. “By leveraging this prime location, we aim to create a cutting-edge logistics hub that will not only support our tenants’ operational efficiencies but also contribute to India’s broader economic growth.”
 
Welspun World specialises in manufacturing textiles including home textiles and advanced textiles. The business also produces flooring solutions, infrastructure, and pipes, according to its website. The business’ integrated fund and development management platform Welspun One was created to develop large scale industrial and logistics parks across the country.