New Delhi
ESR India, an
industrial and logistics real estate platform, has signed a memorandum of
understanding (MoU) with the Tamil Nadu (TN) government at the Investment
Conclave 2021 conference. As per the agreement, ESR India will invest Rs 5.5
billion and develop two industrial parks in Kancheepuram and Krishnagiri over
the next five years.
Once the parks
are fully operational, the two projects will create over 4,400 jobs in the
facility.
The MoU will
help ESR India to streamline land acquisition, approvals, clearances, and
administrative processes as per existing policies, rules, and regulations of
the state government.
According to ESR
India’s statement, ESR is the largest APAC focused logistics real estate
platform by gross floor area and by the value of the assets owned directly. It
is also the largest by the funds and investment vehicles it manages. It is
currently present across nine cities and 15 locations with a total gross floor
area of 18 million square feet.
Source – ET Auto
Image Source: ESR India Website
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