On Tuesday, Warburg Pincus-backed logistic development platform ESR India announced it’s plan to invest Rs 330 crore.
It aims to develop an industrial and logisticspark spread over 38 acres at Pune’s industrial manufacturing hub Chakan.
Moreover, the new logistics park is ESR’s second such establishment in Chakan.
Further, this facility will assist in the expansion of light manufacturing and logistics operations in western region of the country.
However, ESR’s first logistics park in Chakan is spread over 53 acres in MIDC. Also, it began it’s operations from the fourth quarter of 2019.
Some of the nations’ largest auto manufacturing industries will surround the new logistics park, located near the Chakan Talegaon road.
Meanwhile, Chakan is popular for being the industrial hub of India and is one of the country’s most prominent industrial clusters.
It specializes in engineering, automobile, electronics, FMCG and logistics corporations.
Investors such as APG, SK Holdings, JD.com, CPP Investments, Oxford Properties and PGGM fund ESR and the investment vehicles.
Currently, it has projects spread across eight cities with 10 million sq ft of development completed
Moving forward, over 35 million sq ft is still ongoing and planned development.
This 38-acre site possesses robust connectivity to Mumbai-Pune Expressway, Pune, Pimpri-Chinchwad, Aurangabad, Nagpur, Nashik, and Mumbai.
The location provides access to a large talent pool and a well-developed social infrastructure.
This includes quality housing, retail malls, medical, educational facilities, making it an ideal destination for manufacturing and warehousing.
The demand for logistics and warehousing space will grow about 160 percent to reach 35 million sq ft in 2021.
Check all the recent news updates and share market updates