Indospace to invest Rs 650 crore in Gujarat logistic parks

Everstone-promoted IndoSpace Tuesday said it will invest Rs 650 crore in Gujarat to develop three logistic parks over the next three years. IndoSpace has announced its foray into the state with start of construction work at its first logistic park in Bavla near Ahmedabad. The park will be spread over 47 acre with leasable area of 1 million sq ft. The park is located close to the industrial hubs of Sanand and Changodar and has easy access to Kandla and Mundra ports. With rising demand of industrial space, IndoSpace is planning to build two more logistics parks in Gujarat with a total leasable area of 1.5 million sq ft. "The Bavla industrial park not only marks our foray into Gujarat, it also shows our clear determination to strengthen our leadership in the light industrial manufacturing space. We plan to invest Rs 650 crore in new parks across Gujarat.”