ESR India to invest about Rs 300 cr on industrial park in Gujarat

ESR India will invest about Rs 300 crore to develop an industrial and logistics park in Gujarat as part of its expansion plan.

ESR is a leading industrial and logistics real estate platform with a focus on Asia Pacific market.

In a statement, ESR India announced "its plan to develop a 36.5-acre industrial & Logistics Park in Jalisana, an emerging industrial hub of North Gujarat".

The proposed park will cater to expansion and consolidation needs for engineering, electronics, energy, construction, machinery, automobile, auto-ancillary, e-commerce, and 3PL companies in the region. The park is well connected to Delhi-Mumbai Industrial Corridor, Kandla Mundra, ICD Khodiyar and Thar Dry Port.

"We are excited to enter one of the fastest-growing industrial zones of the country, with a robust manufacturing base and an upsurge in e-commerce adoption. We are ready to contribute to Grade A spaces to further augment industrial and warehousing activity in the region," said Abhijit Malkani, CEO, ESR India.

ESR Jalisana industrial and logistics park will boost its footprint to 18 million square feet across strategically significant locations, he added.

The estimated investment to develop this park is around Rs 300 crore, Malkani said.

Located near Ahmedabad, Jalisana is evolving as a significant warehousing and industrial destination.

ESR Jalisana will be an enabler for consolidation, with flexible leasing options from 40,000 square feet to over 5,00,000 square feet Grade A spaces.

Close to established automobile manufacturing clusters of Vitthalapur and Becharji, Jalisana benefits from an existing industrial ecosystem and access to talent.

Mandal-Becharaji region could emerge as India's largest automobile hub, as manufacturing units of Maruti Suzuki, Honda Cars, Honda Motorcycles and scooters and Toyota are already located in this region.

On Wednesday, ESR India announced signing of an agreement with the Tamil Nadu government to develop two industrial parks with an estimated investment of Rs 550 crore.

ESR India and the Tamil Nadu government have signed a memorandum of understanding (MoU) to this effect at the Investment Conclave 2021 conference held on Wednesday.