The Welspun Group has recently finished work of its maiden 110-acre project in Bhiwandi that entails an estimated investment of INR 900 CR and has a Grade A warehousing park with a potential leasable area of approximately 3.2 MM sqft.
Welspun One has also entered into an MoU with the State Government of Maharashtra under the Magnetic Maharashtra Initiative for this project, which is in advanced stages of receiving necessary approvals under the Integrated Logistics Parks (ILP) policy of the State of Maharashtra; making it one the first of its kind fully compliant projects in Bhiwandi. This development will create an upwards of 2700 multi-level job opportunities.
Mr. Anshul Singhal, Managing Director, Welspun One
Mr. Anshul Singhal, Managing Director, Welspun One says, “We have a customer-first approach in everything we do. Owing to our clear understanding of our customers’ dynamically evolving logistical needs, our park in Bhiwandi is well suited to meet the requirements of a large number of end-users including e-commerce, 3PL, FMCG/FMCD, modern retail, pharma and thus far has been very well received by large occupiers. We are also seeing significant interest from international and private equity investors, both at the project and overall platform level; due to the fact that we are launching our first project in a short span of time since inception while parallelly building a robust team that can
deliver Grade A projects across India.”
The promoter’s equity obligations towards the project have been met in the form of land, the market value of which is estimated to be INR 350 CR. The project is being developed in phases with the necessary financing already tied-up in principal, alongside a construction loan that will be converted into a “Lease Rental Discounting” (LRD) facility on completion of each phase.
By pioneering innovative infrastructure and embracing bestin-class norms, this development is acclaimed to be one of India’s first logistics parks that are equipped for COVID-19 and
other such events that could affect park operations. With preconstruction planning and design already in place, the park will be operational by Q4 of 2021.
To know more about the Park features & facilities, visit www.surfacesreporter.com