The company is investing Rs 900 crore to develop its 110-acre industrial park project at Bhiwandi in Mumbai Metropolitan Region (MMR). The project has a potential leasable area of 3.2 million sq ft.
Third party logistic (3PL) service provider FM Logistic India has entered into a contract with Welspun One Logistics Parks to lease warehousing space at Bhiwandi.
As per the agreement, Welspun One will lease out about 9 lakh sq ft of warehousing space to FM Logistic India at its Bhiwandi facility for a tenure of five years.
Welspun One Logistics Parks is in advanced discussions to lease another 1.5 million sq ft with other e-commerce and 3PL companies.
"We are committed to solving the location needs of our clients with solutions that are driven to achieve the highest levels of compliance, safety, operational efficiency and innovation," said Anshul Singhal, Managing Director, Welspun One Logistics Parks.
Despite the ongoing pandemic and the resultant lockdown, FM Logistic India added 10 lakh sq ft of warehousing space under its operations this year.
Alexandre Amine Soufiani, MD of FM Logistic India, said: "We are committed to providing our customers with the best-in-class warehousing infrastructure. Our association with Welspun One Logistics Parks will help us further enhance our service offering to our valued customers."
With this new leased space, FM Logistic India will have a total of 7 million sq ft of warehousing space across India.
In December 2019, Welspun group promoters acquired a majority stake in One Industrial Space that was founded last year by Anshul Singhal. One Industrial Space was rebranded as Welspun One Logistics Parks.
In June, Singhal had told in an interview that the company was looking for land parcels across major cities to expand business as it sees demand for warehousing and industrial space rising in post-COVID era.