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Private Sector | Multi State - India | PID: 190872
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Embassy Industrial Parks will make an investment of around USD 300 million (Rs 2,100 crore) in the next three years to develop its ongoing logistics and warehousing projects.
The company, a joint venture (JV) between realty firm Embassy Group and private equity firm Warburg Pincus, is developing industrial and warehousing parks in Chakan (Pune); Bilaspur and Farrukhnagar (NCR); Sriperumbudur and Hasur (Tamil Nadu); and Hyderabad in a phased manner.
The company has completed around 2.7 million sq ft area so far across three warehousing parks at Chakan, Bilaspur and Farrukhnagar. The company has already invested around USD 80 million since 2016 when it started operations. The work is in progress to develop around seven million sq ft of warehousing and industrial spaces.
The Embassy Group will be infusing USD 250-300 million to complete these ongoing projects. The leasing of warehousing spaces went up by 31 percent to over 13 million sq ft across eight major cities in the first half of 2019. The Embassy Industrial Parks has 52 acres land at Chakan, Pune, with 1.1 million sq ft of development potential. It has 24 acre with six lakh sq ft area in Bilaspur and 108 acre with three million sq ft of development potential in Farrukhnagar.
In Sriperumbudur, the company has 198 acre with 2.7 million sq ft of development potential. About 63 acre are offered as plotted development. Around 60 acre land is in Hosur with 1.3 million sq ft of development potential.
In Kothur, Hyderabad, it has 45 acre of land with 1.31 million sq ft capacity. Embassy Industrial Parks in its projects provides amenities like rest areas for drivers, dormitories, round-the-clock canteen, first-aid centres, 24x7 security coverage, an excellent fire fighting system, and ample parking space.
| Updated on: 07 - Oct - 2019
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