Welspun One Logistics Parks on October 18 stated it has inked a leasing pact with Murugappa Group’s EV manufacturing arm Montra Electric to develop a build-to-suit facility. Under the partnership, Welspun One will assemble the facility, encompassing a devoted meeting area tailor-made for four-wheeler small industrial electrical automobiles and a retail expertise centre, the corporate stated in an announcement. The mission is a part of an ₹2,500 crore funding memorandum of understanding (MoU) signed by Welspun One with the Tamil Nadu authorities, underlining the corporate’s dedication to fostering regional financial development, it added. Located throughout the Welspun One logistics and warehousing park in Chinnambedu in Chennai, the facility is predicted to begin operations by the second quarter of 2024.
The mixed-use growth spans over 3-lakh sq ft, together with 50,000 sq ft of open area.
The facility is customised to meet Montra Electric’s (from TIVOLT) exact necessities, Welspun One Logistics Parks (WOLP) stated. “We have partnered with Montra Electric (from TIVOLT) to create a one-of-a-kind build-to-suit facility in Chennai. Our asset-light and investment-friendly approach perfectly aligns with Montra Electric’s (from TIVOLT) vision,” Welspun One Managing Director Sudhanshu Singhal stated. Situated alongside the jap coast of India, this cluster presents connectivity by rail and street networks whereas being in shut proximity to main seaports in Chennai and Ennore, WOLP stated.
“Welspun One has an exceptional ability to seamlessly align and understand the company’s objectives. They have adeptly addressed its unique power supply needs, a crucial prerequisite for EV manufacturing,” stated Montra Electric (from TIVOLT).
