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Welspun One Logistics Park (WOLP), part of the Welspun Group, said on Tuesday that it has signed an agreement with Guidance (the node agency of the government of Tamil Nadu) to facilitate investment and the establishment of a single window for warehousing facilities.
These projects will be executed by Welspun One and will bring about 25 billion rupees in direct investment in the southern state. Storage markets such as Hosur, Sriperumbudur, and Thiruvallur have proposed six projects with a development potential of 8 million square feet in the next five years. “We are considering the development of about 400 acres of land in Tamil Nadu to build top-class Welspun One Logistics Parks. Managing Director Anshul Singhal said: “Our goal is to create social impact. These projects have the potential to create more than 8,000 jobs. . “
Pooja Kulkarni, Managing Director and Chief Executive Officer of Guidance said: “In the past few years, India has made significant progress in the construction of logistics infrastructure and various regulatory and structural reforms. Before the goods and services tax system, most companies were located in various states. The sole purpose of having multiple small warehouses is to minimize taxation. The introduction of goods and services tax has allowed the company to focus on building an efficient supply chain network by establishing the best-scale warehouses in fewer locations. We are very happy to cooperate with Welspun One Logistics Parks collaborated to help Tamil Nadu establish new standards in the creation of logistics infrastructure.”
News Source : MINT
