Welspun One invests Rs 600 Cr in Thane Urban Warehousing Facility

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Welspun One invests Rs 600 Cr in Thane Urban Warehousing Facility

Welspun One invests Rs 600 Cr in Thane Urban Warehousing Facility

Industry News
Sep 08,23

This project represents the inaugural deployment of Welspun One Logistics Parks Fund 2, a Category II AIF vehicle. To date, the fund has garnered commitments totalling Rs 1,500 crore, with a targeted raise of Rs 2,000 crore, as stated by the company.

Welspun One invests Rs 600 Cr in Thane Urban Warehousing Facility

Welspun One, an integrated fund and development management platform, announced its plans to establish an urban warehousing facility in Thane, with an estimated investment of approximately Rs 600 crore. Positioned strategically, this facility is in close proximity to Thane's prime eastern suburbs, Mulund, and the eastern express highway, according to the company.

The Thane project, with an investment outlay of roughly Rs 600 crore, will feature dedicated loading docks, dust-free parking areas, vertical transportation infrastructure, and more, as outlined in the company's statement.

Anshul Singhal, the Managing Director of Welspun One, remarked, "We are introducing our first Grade-A urban facility in Thane, MMR. The undeniable surge in demand for urban warehousing spaces, with projected requirements expected to reach 16 million square feet in the Mumbai Metropolitan Region by FY 28, is remarkable."

He further emphasised the importance of efficient logistics infrastructure in close proximity to customers, especially as businesses prioritise faster order-to-delivery times.

Research estimates suggest that the demand for urban warehousing across India is projected to surpass 90 million square feet over the next 4-5 years.

Welspun One's purpose-built facility is designed to accommodate tenants from various industries and use cases. These include warehousing and logistics applications such as e-commerce, rapid delivery, grocery, pharmaceuticals, and cold storage, as well as quasi-industrial applications like cloud kitchens, service centres, and R&D/medical lab facilities, among others.

Balkrishan Goenka, Chairman of Welspun Group, highlighted the exponential growth in the in-city logistics category, driven by increasing demand for e-commerce, quick commerce, and rapid delivery services. He stressed the importance of purpose-built, fully-equipped facilities to meet the needs of this evolving ecosystem.

Source: Business Standard