Embassy Industrial Parks, a joint venture between Embassy Group, India's leading property developer and Warburg Pincus, a leading global private equity player, announced that it has signed Mahindra Logistics, one of the leading 3PL logistics firms in the country, as its client for its project based in Chakan, Pune. Mahindra Logistics has signed one of the largest spaces, which is now ready to lease for warehousing purpose. Embassy Industrial Parks invested Rs 3.50 billion to build a 1.1-million sq ft industrial park at Chakan, Pune.
The project mainly comprises built-to-suit factories ranging from 50,000 sq ft to 200,000 sq ft in size.
Embassy Industrial Parks has already strongly established itself by acquiring strategic land parcels in select areas across the country. The company plans to invest 250 million USD to build seven industrial parks in major cities and has already invested in Pune, Haryana, Delhi, West Bengal, and Chennai further to the MOUs signed with the governments of Haryana and West Bengal.