Welspun One Logistics Parks (WOLP) is planning to invest over Rs 900 crore to develop 110 acre warehousing park in Bhiwandi near Mumbai, Maharashtra.

The company’s maiden project with a leasable area of 3.2 million sq ft is located on a contiguous land parcel fully owned by the promoters of the Welspun Group.

The integrated fund, asset and development management company has entered into a pact with the government of Maharashtra for the project and  necessary approvals are being sought under the Integrated Logistics Parks (ILP) policy.

This will be the first logistics parks equipped for COVID-19 and other such events that could affect operations.

With pre-construction planning and design already in place, the park is expected to be operational by October-December 2021.

The park is well suited to meet requirements of a large number of end-users including e-commerce, third party logistics (3PL), fast moving consumer goods (FMCG) and fast moving consumer durables (FMCD), modern retail, pharmaceutical. It has been well received by large occupiers.

The project is being developed in phases with necessary financing already tied up in principle, alongside a construction loan which will be converted into a lease rental discounting facility on completion of each phase.

The upcoming development will have COVID-19 ready features. This development is expected to create an upwards of 2,700 multi-level job opportunities.

The project is located in close proximity to the key market of the Mumbai Metropolitan Region (MMR). It has connectivity to Mumbai-Nashik National Highway (NH-3), JNPT (Nhava Sheva) Port, Mumbai’s International and Domestic Airport and is also in close vicinity of other major production hubs such as Thane.

Apart from this project, the company is planning to develop Grade-A warehousing parks spread over 30-100 acre each across the country. In December 2019, Welspun Group promoters acquired a majority stake in One Industrial Space and post-acquisition the company was rebranded as Welspun One Logistics Parks.

The company is open to buying agricultural and non-agricultural lands across India while executing deals in various formats such as outright land buyouts, joint ventures, joint development and development management.