ESR Group announced its acquisition of a 58-acre plot in Nagpur for the construction of a logistics park. They plan to invest Rs 400 crore in the development of this project. This marks ESR Group’s second logistics park in Nagpur and its twentieth park across India. With this acquisition, ESR Nagpur Logistics Park-2 will contribute to the supply of modern Grade A logistics facilities in the Gondkhairi-Kalmeshwar logistics cluster.
This logistics park is designed to accommodate 10 buildings, with sizes ranging from 67,000 sq ft to 190,000 sq ft, catering to a wide range of tenant needs, including e-commerce, third-party logistics (3PL), retail, and fast-moving consumer goods (FMCG).
Abhijit Malkani, CEO of ESR India, expressed the company’s commitment to creating top-notch logistics facilities. Their first logistics park in Nagpur, ESR Nagpur Logistics Park 1, has been operating at full occupancy since 2020 and has attracted prominent tenants from the retail and e-commerce sectors. The new logistics facility aims to set higher warehousing standards and support the expansion requirements of e-commerce, retail, and 3PL services.
As of June 30, 2023, ESR has ongoing development projects worth USD 13 billion. In the first half of 2023, they initiated developments worth USD 3.8 billion and completed projects valued at USD 2.2 billion.