ESR Plans To Invest $250 Million To Develop Logistics Parks In India
Warburg Pincusbacked coordinations land firm ESR intends to burn through $250 million throughout the following year and a half to create logistics parks in the nation, a move that will see its warehousing portfolio twofold to 30 million sq ft.
"The procedure is to put more in center resources. In the long haul, we won't just create cash by setting up distribution centers yet additionally send capital in purchasing center resources," said Abhijit Malkani, nation head, ESR Advisors India.
ESR, perhaps the biggest engineer and administrators in logistics and warehousing, was shaped by the merger of e-Shang Cayman and Redwood Group Asia.
The firm possesses and oversees properties worth about $20 billion comprehensively. It has just conveyed $250 million in the course of the most recent two years and has inked a few association manages land and venture firms, including Future Group, GMR and Lodha
As per Malkani, the organization intends to grow its tasks in level II urban areas, including Rajpura, Kolkata and Lucknow, aside from level 1 urban areas like Mumbai and Bengaluru.
"We are concentrating on level II urban communities, as there is an immense interest for quality stockroom space by enormous web based business players," he said.