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Welspun One, an integrated fund and development management organisation, has announced an investment of Rs 2,000 crore in Tamil Nadu to develop industrial and logistics parks over the next five years.
The company has signed an MoU in this regard with the state government during the Tamil Nadu Global Investors Meet 2024 that concluded on Monday.
This initiative is expected to generate direct employment opportunities for 5,000 people, a statement here on Wednesday said.
Anshul Singhal, managing director, Welspun One, said, "Our focus is on creating sustainable infrastructure, generating employment opportunities and contributing meaningfully to the state's industrial growth."
This is the second MoU of the warehousing platform to be signed with the state government after the Rs 2,500 crore investments announced in 2021.
Under the initial MoU, the company has developed two projects -- The Chinnambedu Industrial and Logistics Parks with more than 2.3 million sq ft of high-quality leasable space and Bagalur Industrial and Logistic Parks offering 9.5 lakh sq ft of grade-A leasable space.
Around 8,000 jobs were generated and secured partnerships with clients including Montra Electric (from TIVOLT), Parekh Integrated Solutions and Yanmar, the statement added.
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