Embassy Industrial Parks to to build logistic, warehousing projects at $300 million investment

Embassy Industrial Parks will invest about US$ 300 million (about Rs 2,100 crore) in the next three years to develop its ongoing logistic and warehousing projects.

The company’s spokesperson Aditya Virwani was quoted as saying by PTI: “We have completed around 2.7 million sq ft area so far across three warehousing parks at Chakan, Bilaspur and Farrukhnagar.”

A joint venture between realty firm Embassy group and private equity firm Warburg Pincus, the company is developing industrial and warehousing parks in Chakan (Pune); Bilaspur and Farrukhnagar (NCR); Sriperumbudur and Hasur (Tamil Nadu); and Hyderabad in phased manner.

According to Virwani, the work is in progress to develop around 7 million sq ft of warehousing and industrial spaces. To a question on the investment, he said, “We will be infusing US$ 250-300 million to complete these ongoing projects.”

Image Credit : static-news.moneycontrol.com

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