Central Indian airport adds logistics park
GMR Hyderabad Aerotropolis Limited, a subsidiary of GMR Hyderabad International Airport, has formed a joint venture with ESR Hyderabad 1, a subsidiary of Hong Kong-headquartered ESR Cayman Limited, to develop a 268,000 sqm logistics and industrial park at Hyderabad airport city.
ESR and GHAL have entered into definitive agreements with an equity interest of 70% and 30%, respectively in the SPV-GMR Logistics Park Private Limited. The total project outlay would be almost EUR 69 million, a press release from GMR said. It proposes to develop a flagship airport centric logistics and industrial park providing modern facilities for warehousing, distribution centres and non- polluting industrial such as light assembly. This cooperation would set new standards for the warehousing and industrial real estate sector. (ah)