Indospace to invest Rs. 650 crores in Gujarat to develop Logistic Parks

Delhi News

IndoSpace a firm promoted by Everstone informed about making an investment of Rs. 650 crores in Gujarat. The company has planned to develop three logistic parks here in the coming three years. The IndoSpace also announced its venture in the construction sector by developing its first logistic park in Bavla close to Ahmedabad. This park will cover an area of more than 47-acre and will acquire 1 million sq.ft. area on lease.

This logistic park will be developed close to the industrial hubs of Sanand and Changodar and will also have smooth connectivity to Kandla and Mundra ports. The company is planning to develop two more logistic parks while considering the increased demand of industrial spaces.

Indospace will also acquire a total liable land of 1.5 million sq. ft. to develop these two logistic parks.

Rajesh Jaggi, Managing Partner, Real Estate, Everstone Group said that the Bavla industrial park will mark our entry into Gujarat and will also showcase our determination to strengthen our leadership in the light industrial manufacturing space as we plan to invest Rs. 650 crores in new developing parks in Gujarat.

He also said that the over 10,000 people will get job on the completion of these projects in the state.

Indospace recently shared the closure of its third logistics real estate fund with a corpus of USD 1.2 billion. This closure escalated their India commitment to more than USD 3.2 billion. The company has 30 industrial and logistic parks planned in nine cities and they acquire nearly 30 million square feet under both developed and under-construction projects.

Indospace, is promoted by Everstone Group, GLP and Realterm has a smart client lineup such as IKEA, Amazon, Nissan, PepsiCo, DHL, Leoni, Steelcase, Kubota, Ericsson, Bosch and Delphi.

The Everstone Group is known to be the premier India and South East Asia focused private equity and real estate firm. While GLP is the leading global provider of modern logistics facilities and technology-led solutions.

Realterm, on the other hand, is a multi-strategy private equity real estate firm operating in North America.