Embassy Industrial Parks has announced signing Faurecia as its client in the industrial park facility located in Chakan, Pune.
While the former is a joint venture between Embassy Group India’s leading property developer and Warburg Pincus, the latter is an automotive technology firm.
Embassy Industrial Parks invested Rs 350 crore to build a 1.1-million sqft. industrial park at Chakan, Pune. The project mainly comprises built-to-suit factories ranging from 50,000 sqft. to 2 lakh sqft. in size.
Embassy Industrial Parks started with an initial equity line of $250 million to build industrial parks in key cities. Over the next three years, the company plans to build 9 parks, with the total of 35 million sq.ft. of potential development.
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