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Welspun One Plans to Deploy Rs 600 Crore for Warehousing Mixed-Use Project Near Mumbai

The company's board has also recommended a dividend of Rs 5 per share for the fiscal year 2023-24.

Welspun One Logistics Parks announced on 6 September that it is planning to invest Rs 600 crore on a warehousing-anchored mixed-use development in Thane of the Mumbai Metropolitan Region.

The company plans to construct 6 lakh square feet of built-up area on a 3.25-acre plot. It plans to lease it to warehousing and logistics companies that operate in e-commerce, grocery, cold storage, rapid delivery, and pharmaceutical segments.

The company, in its statement, said, “The in-city facility is expected to bridge the gap between escalating demand from the booming e-commerce, quick commerce and rapid-delivery-services sectors and the availability of good quality logistics infrastructure located in close proximity to existing and upcoming residential and commercial hubs,”

The company added that there is a scarcity of existing options, and the existing ones are also unorganised, make-shift, inefficient, and non-compliant.

As per the company’s research, the in-city warehousing demand in India is expected to cross 90 million square feet in the next 4-5 years.

The project will feature dedicated docks, vertical transport facilities, dust-free parking bays, and more.

The facility is set to be located in close proximity to the prime eastern suburbs of Thane and Mulund, as well as the eastern highway.

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