As a part of a Rs 1910 crore pact with Haryana government, the Embassy Industry Parks has acquired a land of 24 acres in Gurgaon to set up a warehousing facility. The deal is finalised on Rs 38 crore.
The company, which is a joint venture of between realty developer Embassy Group and private equity firm Warburg Pincus, has a plan to invest a total Rs 140 crore in developing a leasable area of 6.1 lakh sq. ft. into the warehouse located on National Highway-8 near Bilaspur Chowk. The warehouse is expected to provide services to the companies in third-party logistics, FMCG, e-commerce, pharmaceuticals and retail sectors.
“We are looking at acquiring more land in the National Capital Region (NCR). Embassy Industrial Parks will continue building world-class facilities around Gurugram (Gurgaon) that will help multinational and domestic companies set up factory operations in the state,” says Anshul Singhal, CEO, Embassy Industrial Parks.
Source: ET Realty