The GRT group has partnered with Welspun One Logistics Parks (WOLP), an integrated fund and development warehousing platform, to develop two Grade-A warehousing projects in Tamil Nadu. WOLP is the warehousing platform of the USD 2.3 billion global conglomerate, Welspun Group.
Each park will be spread across 60 acres of land, with a development potential of 1.3 million sq. ft. The projects are to be located on NH 16 – part of the East Coast Economic Corridor (ECEC). In addition to Chennai city and Chennai port, they connect to Nellore, Vishakhapatnam, Bhubaneswar, Balasore and Kolkata.
The first project is being developed through a 50:50 joint venture between GRT group and WOLP; it also marks the final investment of WOLP Fund 1. Welspun One Logistics Parks Fund I, is a warehousing fund that provides domestic institutions, HNIs, family offices and NRIs, an opportunity to invest in the warehousing and industrial real estate sector in India. The fund has a target size of ₹500 crore.
