Embassy Industrial Parks will invest about USD 300 million (about Rs 2,100 crore) in the next three years to develop its ongoing logistic and warehousing projects, a top company official said.
The company, a joint venture 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 phased manner.
"We have completed around 2.7 million sq ft area so far across three warehousing parks at Chakan, Bilaspur and Farrukhnagar," the company's spokesperson Aditya Virwani told PTI in an interview.
The company has already invested around USD 80 million since 2016 when it started the operation.
Virwani said the work is in progress to develop around 7 million sq ft of warehousing and industrial spaces.
Asked about the investments, he said, "We will be infusing USD 250-300 million to complete these ongoing projects."
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