Welspun One Logistics Parks (WOLP), in a joint venture with GRT Group, will invest INR 700 crore to develop two grade-A warehousing projects in Tamil Nadu.
As per the memorandum of understanding (MoU) with the Tamil Nadu government, Welspun is developing these projects to invest approximately INR 2,500 crores in the state over the next five years, stated the company.
The first project is a 50:50 joint venture between GRT Group and WOLP, and it also represents the final investment of WOLP Fund 1, which had a target size of INR 500 crore. The second project will be developed by WOLP for GRT Group under a “development management” agreement.
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