The primary venture is being developed by way of a 50:50 three way partnership between GRT Group and WOLP; The second venture is being developed by WOLP for GRT Group underneath a “Growth Administration” settlement.
GRT Group has partnered with Welspun One Logistics Parks (WOLP), an built-in fund and improvement warehousing platform, to develop two Grade-A warehousing tasks in Tamil Nadu. WOLP is the warehousing platform of the US$ 2.Three billion international conglomerate Welspun Group.
Every park can be unfold over 60 acres of land, with a improvement potential of 1.Three million sq ft. These tasks can be positioned on a part of NH16 – East Coast Financial Hall (ECEC). Aside from Chennai metropolis and Chennai port, they connect with Nellore, Visakhapatnam, Bhubaneswar, Balasore and Kolkata.
The primary venture is being developed by way of a 50:50 three way partnership between GRT Group and WOLP; This additionally marks the final funding of WOLP Fund 1. Welspun One Logistics Parks Fund I, a warehousing fund that gives a possibility to home establishments, HNIs, household places of work and NRIs to put money into the warehousing and industrial actual property sector in India. The goal measurement of the fund is ₹500 crore.
The second venture is being developed by WOLP for GRT Group underneath a “Growth Administration” settlement.
The tasks are being developed by Welspun as a part of its memorandum of understanding (MoU) with the Tamil Nadu authorities to take a position Rs 2,500 crore within the state over a interval of 5 years. The tasks with GRT Group will see a direct funding of ₹700 crore and create 3,000 jobs through the improvement part.
In line with particulars supplied by Welspun One Logistics Park, the operational warehousing park will drive financial improvement of the encircling communities within the state.
The promoters of GRT Group stated that they’re excited to take part within the quick rising warehousing and logistics actual property phase by way of this three way partnership with Welspun One. Anshul Singhal, Managing Director, Welspun One Logistics Park, stated, “This alliance marks the start of our formidable plans within the South.”
Established within the 12 months 1964, GRT Group is among the distinguished gamers within the jewelery house in Tamil Nadu. It’s a diversified enterprise conglomerate with pursuits in jewelry, hospitality, renewable vitality (photo voltaic & wind), schooling, NBFC, warehousing and agriculture.