GMR Hyderabad Aerotropolis (GHAL), a subsidiary of GMR Hyderabad lnternationaI Airport |(GHIAL), has formed a joint venture with ESR Hyderabad (ESR), a subsidiary of the Hong Kong headquartered ESR Cayman, to develop a 66-acre logistics and industrial park at the Hyderabad airport city.
ESR and GHAL for the aforesaid transaction have entered into definitive agreements with an equity interest of 70% and 30% respectively in the SPV viz., GMR Logistics Park Private Limited. The total project outlay would be around Rs. 550 Crore.
The JV proposes to develop a flagship airport centric logistics and industrial park providing state-of-the-art facilities for warehousing, distribution centers and non-polluting industrial facilities such as light assembly.
The park will provide new age facilities and amenities to occupiers and help attract investments and employment in the region.
@EPC World Media
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