Welspun One to set up in-city warehousing facility in Thane with outlay of Rs 600 cr

Integrated fund and development management platform Welspun One on Wednesday said it will set an in-city warehousing facility in Thane with an outlay of around Rs 600 crore.

The facility is strategically located in close proximity to the prime eastern suburbs of Thane and Mulund and the eastern express highway, as per the company.

This marks the first deployment of Welspun One Logistics Parks Fund 2, a category II AIF vehicle, which has secured commitments of Rs 1,500-crore out of a target raise of Rs 2,000-crore to date, the company said.

The Thane project, which entails a project outlay of approximately Rs 600-crore, will include dedicated docks, dust-free parking bays, vertical transportation facilities, among others, it said.

''We are launching our first Grade-A in-city facility in Thane, MMR. The surge-in demand for in-city warehousing spaces, with projected requirements reaching 16-million square feet in Mumbai Metropolitan Region by FY 28, is undeniable,'' said Anshul Singhal, Managing Director of Welspun One.

As businesses prioritize faster order-to-delivery times, having access to efficient logistics infrastructure which is located in close physical proximity to the customer is critical to meeting their business requirements, he said.

As per research estimates, the in-city warehousing demand pan-India is expected to exceed 90 million square feet over the next 4-5 years.

The purpose-built facility can accommodate tenants from diverse industries and use cases ranging from warehousing and logistics applications such as e-commerce, rapid delivery, grocery, pharmaceutical and cold storage to quasi-industrial applications like cloud kitchens, service centres and R&D/medical lab facilities, among others, it said.

''In-city logistics as a category is witnessing exponential growth due to surging demand of e-commerce, quick commerce and rapid delivery services.

''With few alternatives available, having purpose-built and fully-equipped facilities that can cater to the needs of this ecosystem, is the need of the hour,'' said Balkrishan Goenka, Chairman of Welspun Group.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)