Monday, December 15, 2025 | 11:09 AM ISTहिंदी में पढें

Home / Companies / News / GIC, ESR Cayman form $750-million joint venture to invest in logistics

GIC, ESR Cayman form $750-million joint venture to invest in logistics

The JV will be seeded with a 2.2 million sq ft build-to-core asset, located in close proximity to the large consumption hubs of Mumbai and Thane

Concor, warehouse, logistics, distributor

premium

Banking on the growth of e-commerce and implementation of the goods and services tax regime, several investors such as Canada Pension Plan Investment Board

Raghavendra Kamath Mumbai

3 min read Last Updated : Dec 22 2020 | 10:53 PM IST

Singapore’s sovereign wealth fund GIC and Hong Kong’s logistics developer ESR Cayman on Tuesday said they have formed a $750-million (around Rs 5,500 crore) joint venture (JV) to develop and acquire industrial and logistics assets in the country.

It will be an 80:20 partnership deal, focusing on Tier 1 and Tier 2 cities.

The JV will be seeded with a 2.2 million sq ft build-to-core asset, located in close proximity to the large consumption hubs of Mumbai and Thane in Maharashtra.

ESR was recently in news for being in the race to acquire Warburg Pincus-backed Embassy Industrial Parks, but the talks fell through

Topics : GIC joint ventures in India logistics