Mumbai, Apr 5 (PTI) Asset management platform Welspun One Logistics Parks has leased out over 4-lakh sq ft of warehousing space in the logistic hubs of Bhiwandi and Farukhnagar to Ecom Express.
As per the terms of the deal, the leasing period for the warehousing spaces will be for nine years at both the parks and these projects are expected to go live by the second half of 2022, Welspun One Logistics Parks said in a release.
Both locations will be designed by Welspun One to ensure maximum throughput efficiency in addition to 100 per cent compliance to norms and stringent safety standards, it added.
Bhiwandi and Farukhnagar are both thriving logistics ecosystems servicing the consumption centres of Mumbai Metropolitan Region and (MMR) and NCR respectively. Ease of connectivity to expressways, highways and nearby states has established both these locations as critical warehousing micro-markets, the platform noted.
The two facilities are equipped with amenities and utilities to suit the requirements of new-age logistics businesses with technology-backed solutions for traffic and parking management, along with being a zero-discharge facility, the release said.
A rapidly growing tech-enabled logistics solutions company in the domestic market, Ecom Express operates over a network of over 2,700 towns. The company’s full-state coverage strategy in 25 states enables it to reach every doorstep in each city, town and village in the state, as per the release.
“Our partnership with Ecom Express, at our Bhiwandi and Farukhnagar parks, is a step towards creating a true value add to our clients’ business propositions. In an environment where the Indian logistics and warehousing sector is experiencing greater demand and increasing modernisation, we want to be the most preferred warehousing provider for our clients,” said Anshul Singhal, Managing Director, Welspun One Logistics Parks.
The expansion of the e-commerce sector has been a crucial growth driver for the exponential rise in demand for warehousing spaces across regions, it said, adding Welspun One Logistics Parks seeks to leverage this demand and provide first-rate, sustainable and technologically advanced solutions for companies to conduct their warehousing operations seamlessly.
“The current situation has brought a dramatic and lasting change in consumer behaviour, with purchasing preference shifting towards online retail and further accelerating the demand for logistics infrastructure. Our association with Welspun One Logistics Parks in both Bhiwandi and Farukhnagar will see us bolster our logistics services across the country,” said TA Krishnan, co-founder and CEO of Ecom Express. PTI IAS BAL BAL
