ESR India inks MoU with the govt of Maharashtra to invest 4,310 crores
Leading Asia Pacific focused industrial and logistics real estate platform, ESR India, has inked an MoU with the government of Maharashtra envisaging INR 4,310 crore investment for setting up 11 projects around Mumbai and Pune, says release.
This affiliation with the state government is aimed at encouraging industrial developments in the state with streamlined land acquisition and administrative processes. The policy and regulatory reforms unveiled in recent times has accentuated the entry of international institutional players and has set new benchmarks for industrial developments in the country.
Commenting on the development, Abhijit Malkani and Jai Mirpuri, Country Heads, ESR India said in an official statement, “The Government of Maharashtra and the MIDC (Maharashtra Industrial Development Corporation) has been very supportive of our efforts to develop world-class industrial and logistics infrastructure in the state, and these MoUs will fast-track investment into these projects, accelerate their development, and help attract more multinational and national companies to Maharashtra. The MoU will see ESR invest INR 4,310 crore to develop industrial and logistics parks in Maharashtra and will see multiple direct & indirect job opportunities.”
“Our goals are aligned with the vision of the Government of Maharashtra, to foster investment and employment towards garnering better economic growth in the region”, they further stated.
These facilities, once fully operational has the potential to create over 35,000 jobs in the state, that shall boost the overall socio-economic growth in the region.
ESR India is currently present across 8 cities and 14 locations with a total GFA of 15.1 Mn. Sq. ft. These state-of-the-art facilities will be developed upholding the best practices for ESG and sustainability.