A new logistics park in Nagpur, Maharashtra, would be built and developed with the help of 400 crore rupees, according to proposals released by ESR Group, a prominent logistics real estate platform. The company will build the park, known as ESR Nagpur Logistics Park 2, which will be its second in Nagpur and twentieth in India.
With 10 buildings, each measuring between 67,000 and 190,000 square feet, the park will cover an area of 1.4 million square feet. A wide range of tenants, including e-commerce, third-party logistics (3PL), retail, and fast-moving consumer goods (FMCG) enterprises, were taken into consideration when ESR Group was designing the park.
ESR Group and GIC, a worldwide sovereign wealth fund, have teamed together to develop and invest in logistics facilities in India. The deal is valued at USD 600 million. The company’s Indian subsidiary, ESR India, has 2.4 million square meters of gross floor area and USD 1.6 billion in assets under management (AUM).
ESR Group’s dedication to the Indian market is demonstrated by its investment in ESR Nagpur Logistics Park 2. According to the organization, demand for contemporary logistics facilities would continue to be driven by India’s expanding e-commerce and logistics sectors.
The park, which would bolster the regional economy and provide jobs, is anticipated to be finished in 2025. It is anticipated that Nagpur will become a more competitive logistics hub and attract new enterprises.