LOGOS & Ivanhoe buy land in Pune to set up logistics park
PUNE : Asia Pacific logistics real estate major LOGOS and its venture partner Ivanhoe Cambridge have acquired a 77-acre industrial land parcel in Pune’s Chakan industrial area to develop a large-scale logistics park. The land parcel has development potential of over 2.2 million sq ft.
The logistics venture of LOGOS India and Canadian institutional investor Ivanhoe Cambridge will acquire LOGOS Chakan Logistics Estate and invest ₹650 crore in the project, said Trent Iliffe, Managing Director of LOGOS.
The LOGOS India-Ivanhoe Cambridge logistics venture has $800 million in investment capacity to develop and own high-quality, modern, industrial and logistics facilities in India’s key markets.
“The Chakan site is one of the largest industrial zoned lands in this area, capable of delivering a large-scale, prime-grade industrial and logistic estate,” said Iliffe.
“With strong connectivity to key transport infrastructure, the estate will be able to support the increasing demand from e-vehicles, auto ancillary and electronics customers looking to build top-class industrial facilities.”
The site will be master-planned with sustainability-driven development comprising Grade A industrial and logistics buildings. With direct access to the Mumbai-Pune Expressway and Mumbai-Bangalore NH 48, the site offers access to the Pune region from Mumbai’s port and other key infrastructure. “We are seeing strong demand from customers wanting to establish world-class, sustainable infra in this area, and through this development, LOGOS will be able to meet the demand through a timely and efficient development programme,” said Mehul Shah, CEO, LOGOS India.