Panattoni to invest $200mn for developing 4 industrial and logistics parks in India

New Delhi, July 25 (KNN) American company Panattoni will invest USD 200 million in India to build four industrial and logistics parks.

It aims to tap the growing demand for warehousing spaces across major Indian cities.

With its entry in India the global leader in industrial & logistics real estate development has debuted in the Asian market and its Indian venture is headquartered in Bengaluru. 

As demand for quality spaces rises from third-party logistics, e-commerce and manufacturing sectors Sandeep Chanda, Managing Director India, Panattoni, sounded bullish on the long-term growth of the industrial and logistics segment of Indian real estate, as per PTI.

To develop four projects in the first phase of the India venture the company is holding discussions with land owners to purchase around 250 acres of land in Delhi-NCR, Mumbai, Chennai, Hyderabad, Bengaluru and Pune.

The proposed investments include land, construction and other costs.

The fund will be raised at the special purpose vehicle (SPV) level to be created separately for the development of each project.  (KNN Bureau)