IndoSpace plans to invest about Rs 600 crore in two warehousing and logistics parks in Becharaji and Bavla, in Gujarat, in a bid to grow its presence in western India.
The two parks are spread over 90 acres with around 2 million sq ft of warehousing space. The IndoSpace park in Becharaji is located on the outskirts of the Mandal Becharaji Special Investment Region (MBSIR), while the park in Bavla is close to the Changodar-Bagodara industrial belts.
“After establishing a strong presence in Chakan, Pune in the western region, we are excited to further strengthen our presence in the state of Gujarat. The state is today one of India’s important industrial hubs, and we aim at serving companies in the automotive (including Battery Electric Vehicle (BEV) and BEV batteries manufacturing), e-commerce and retail industries. We plan to leverage on the manufacturing growth in the state and provide our Grade A logistics infrastructure to customers across industries,” said Rajesh Jaggi, vice-chairman- real estate, Everstone Group.
With automotive companies such as Maruti Suzuki, Honda, and Toyota located around the parks, IndoSpace said its parks in Becharaji and Bavla are ideal for businesses across sectors that are looking to expand and strengthen their presence in the state.
IndoSpace is a joint venture between the Everstone Group, an India and Southeast Asia-focused private equity and real estate investor, GLP and Realterm, a US-based global industrial real estate group. It has a portfolio network of 44 logistics parks with 49 million sq ft delivered and under development across ten cities.
