Welspun One has bought 22-acre land along the Bilaspur-Tauru Road in the Gurugram-NH8 corridor to develop a logistics park with an investment of Rs 125 crore.
The project will generate employment for up to 1,500 people, according to a statement.
In the statement, the company said that it "plans to invest Rs 125 crore in this Bilaspur-Tauru Road project, which is expected to generate employment for 1,200-1,500 people".
The project aligns with the company's vision to create state-of-the-art logistics and warehousing facilities that cater to the diverse and evolving needs of businesses across various industries.
"This acquisition marks a significant step in expanding our footprint in one of India's vital logistics corridors.
By leveraging this prime location, we aim to create a cutting-edge logistics hub that will not only support our tenants' operational efficiencies but also contribute to India's broader economic growth," Anshul Singhal, Managing Director of Welspun One, said.
Property consultant JLL India facilitated this deal.
Welspun One is an integrated fund and development management platform, designed to deliver large format, institutional Grade-A logistics and industrial parks across India.
It is the warehousing platform of the $5 billion business conglomerate Welspun World, which is into pipes, home textiles, infrastructure, advanced textiles and flooring solutions.
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