“ESR has also committed to invest Rs 400 crore (USD 48 million) for the construction and development of ESR Nagpur Logistics Park 2, which will be the company’s second logistics park in Nagpur and its twentieth park across the country,” it added. With the successful land acquisition, ESR Nagpur Logistics Park- 2 will help boost the supply of modern Grade A logistics facilities within the Gondkhairi-Kalmeshwar logistics cluster.
The park is designed to accommodate 10 buildings, with building sizes ranging from 67,000 sq ft to 1,90,000 sq ft to meet a broad spectrum of tenant needs, ranging from e-commerce to third-party logistics (3PL), retail and fast-moving consumer goods (FMCG). Abhijit Malkani, CEO of ESR India, said, “ESR’s investment in this new Grade A asset builds upon the remarkable success of our first logistics park in Nagpur. Our flagship 22.5-acre development, ESR Nagpur Logistics Park 1, has been operating at full occupancy since completion in 2020, having attracted high-profile tenants from retail and e-commerce domains”.
“We are building another best-in-class logistics facility that will redefine warehousing standards in the region and cater to the diverse expansion needs of e-commerce, retail, and 3PL services. Our work is focussed on driving long-term sustainable growth of the economy and uplifting local communities,” he added. As of June 30, 2023, ESR has a development work-in-progress of USD 13 billion.
