17 Dec 2020

FM Logistic India and Welspun One Logistics Parks sign 9 lakh sq. ft lease for Bhiwandi Park

3PL service provider, FM Logistic India, has entered into a contract with Welspun One Logistics Parks to lease around 9 lakh sqft of warehousing space at Bhiwandi for expansion and future consolidation.
3PL service provider, FM Logistic India, has entered into a contract with Welspun One Logistics Parks to lease around 9 lakh sqft of warehousing space at Bhiwandi for expansion and future consolidation. The Rs 900 crore facility is Welspun One’s flagship project is spread over 110 acres. Welspun One Logistics parks is also in advanced discussions for another 1.5Mn sqft with other E-commerce and 3PL companies for their park in Bhiwandi.

Anshul Singhal, Managing Director, Welspun One Logistics Parks said, “At our first park in Bhiwandi, we are delighted to partner with a globally reputed company like FM Logistic. We share similar values of strong emphasis on quality, solving customers’ needs, and a long term vision of continued excellence. We are certain that our association with the leading international logistics provider of their repute is a long term relationship as we buy, build, and lease properties across India that are aligned with global standards as well as our tenants’ requirements and aspirations.”

FM Logistic India added 10 lakh sq. ft. of warehousing space under its operations this year despite the outbreak of COVID-19, to cater to the growing demand from e-commerce, omnichannel, FMCG, food and Pharma sector.

Alexandre Amine Soufiani, MD - FM Logistic India, expressed, “We are committed to providing our customers with the best-in-class warehousing infrastructure. Through the said warehouse in Bhiwandi, we will provide our customers with faster connectivity to the major consumption markets in the West. With this new leased space, FM Logistic India will have a total of 7.0 million sq. ft. of warehousing space across India. The 3PL player provides Warehousing & Distribution services for FMCG, Food, Retail, Automotive, Consumer Durables, E-commerce, Engineering, Telecom, Pharma and other sectors.

Last year, Welspun Group Promoters, through a closely held family office investment has acquired majority stake in warehousing platform - One Industrial Spaces, an integrated fund, development and asset management organization focused on the warehousing sector in India. The warehousing and logistics sector will be one of the fastest asset classes to recover from the Covid-19 pandemic due to the sharp increase in domestic demand and a possible major manufacturing shift to India as global manufacturers de-risk their supply chains, according to a report that outlined post-Covid sector outlook.