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IndoSpace
CPP Investments and IndoSpace joint venture IndoSpace Core on Tuesday announced the acquisition of six industrial and logistics parks valued at Rs 3,000 crore (471 million Canadian dollars). The six parks, located across key logistics markets, including Bengaluru, Chennai, Delhi, Mumbai, and Pune, collectively span 380 acres with a leasable area of around 9 million sq ft feet, the company said. Set up in 2017 to acquire and develop logistics facilities across India, IndoSpace Core is co-owned by supply chain infrastructure platform IndoSpace and Canada Pension Plan Investment Board (CPP Investments), which holds a 93 per cent stake in the JV (joint venture). CPP Investments will commit Rs 1,400 crore (217 million Canadian dollars) to fund the acquisition, it said. The latest acquisition strengthens the JV's position as India's largest operator of stabilised industrial and logistics real estate, the company said. "India's logistics sector continues to benefit from strong structural
Logistics parks operator IndoSpace on Tuesday said it is looking to bolster its presence in the manufacturing sector with an increased investment plan of up to Rs 4,500 crore in new logistics and warehouse parks in Tamil Nadu. A leading developer of Grade A industrial and logistics real estate, IndoSpace had last year signed an initial pact with the Tamil Nadu government for investing Rs 2,000 crore in the state's logistics industry. Tamil Nadu continues to be a preferred destination for global original equipment manufacturers (OEMs) with companies like Hyundai, Nissan, Foxconn, and Pegatron announcing significant expansions in the state, IndoSpace said, adding that the company has helped develop an ancillary ecosystem that supports these OEMs. "IndoSpace announces plans to increase its investments up to Rs 4,500 crore in new logistics and warehouse parks in Tamil Nadu. These parks will support the growing manufacturing sectors like automobile and electronics in the state," the ...
Industrial and logistic parks developer IndoSpace on Friday announced that it will invest Rs 3,000 crore in Karnataka's warehousing and logistics space. The firm already has a strong footprint in the state with its Grade-A industrial parks operational in Bommasandra, Nelamangla I and upcoming facilities in Nelamangala II and Naraspura. IndoSpace said it has signed an initial pact with the Karnataka government for this proposed investment in the state. The pact is for a period of seven years and expected to generate 14,000 new jobs. This investment will help attract further investments in the state and help meet the increasing demands of industries linked with warehousing and logistics, the company said. Karnataka has a growing base in sectors like automobile, electronics, aerospace, agriculture, textiles and engineering and IndoSpace looks to help these industries with warehousing and logistics facilities, said Rajesh Jaggi, Vice Chairman for Real Estate, Everstone Group. IndoSpa