GMR Hyderabad Aerotropolis (GHAL) has formed a joint venture with ESR Hyderabad 1 (ESR) to develop a 66-acre logistics and industrial park at the Hyderabad airport city. Both the companies, for the aforesaid transaction, have entered into definitive agreements with an equity interest of 70 per cent and 30 per cent respectively in the SPV viz., GMR Logistics Park. The total project outlay would be around Rs550 crore.
“This collaboration would set new standards for the warehousing and industrial real estate sector. It would also benefit the burgeoning cargo industry in the region,” said Aman Kapoor, CEO – Airport Land Development, GMR Group.