A Memorandum of Understanding (MoU) has been signed between the government of Karnataka and Welspun One Logistics Parks (WOLP), an integrated fund, development, and asset management firm, to increase WOLP's footprint in the South Indian warehousing market.
With the aid of this partnership, the corporation wants to invest a total of Rs2,000 crore in Karnataka. Over a five-year period, 6.28 million square feet will be devoted to the construction of the warehouses and logistics parks, which will result in the creation of more than 6,000 jobs.
Welspun One stated in a release that it aims to efficiently utilize both public and private land parcels in Karnataka for the development of Grade A storage facilities and logistics parks.
At the Invest Karnataka: Global Investors' Meet in Bangalore, the MoU was inked.
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