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 approximately 9 lakh sq. ft. of warehousing space to FM Logistic India at Bhiwandi. The Rs.900 crore facility is Welspun One's flagship project and is spread over 110 acres. Welspun One Logistics parks is also in advanced discussions for another 1.5Mn sft with other E-commerce and 3PL companies for their park in Bhiwandi.
FM Logistic India, with this deal, will now have an additional 9 lakh sq. ft. of dedicated Grade A warehousing campus in one of the key micro markets in India - Bhiwandi, Mumbai. At a time when efficient logistics services are key to developing omni-channel retail strategies, this move will give FM Logistic a significant presence to service the Mumbai Metropolitan Region, which has a consumption base of 26 million people. The Grade A logistic facility has been designed according to the best industry standards with high spec buildings, 100% compliance to norms and stringent safety standards, allowing FM Logistic to strengthen its foothold in India's economic capital. The campus will also give the company adequate room to consolidate and expand operations in the future. Despite the ongoing pandemic and the resultant lockdown, FM Logistic India added 10 lakh sq. ft. of warehousing space under its operations this year. The main impetus for this growth has been on account of great focus on the e-commerce, omnichannel, FMCG, food and Pharma sectors.
END