GMR- ESR join hands to develop large-scale logistics park

GMR Hyderabad Aerotropolis, a subsidiary of GMR Hyderabad lnternationaI Airport, has joined hands with global logistics real estate firm ESR. The two companies have forged a joint-venture which would develop a 66-acre logistics park in Hyderabad at an estimated investment of Rs 550 crore.

“This collaboration would set new standards for the warehousing and industrial real estate sector. It would also benefit the burgeoning cargo industry in the region,”  Aman Kapoor, chief executive officer (CEO) – airport land development, GMR Group commented.

ESR is backed by the private equity firm Warburg Pincus and has been on an expansion spree in the recent past. Last year, it had also signed a deal with Future Group to develop two logistics parks with an investment of Rs 300 crore.

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