Embassy Parks to invest $300 mn to build warehousing, logistic projects

The company says e-commerce and third-party logistics firms are the main drivers of the demand

Embassy Industrial Parks will invest about $300 million (about Rs 2,100 crore) in three years to develop its 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.

The company has invested around $80 million