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    EIP plans Rs. 1,600-cr for building warehouses

    Embassy Industrial Parks (EIP)
    Embassy Industrial Parks (EIP), which is a joint venture between real estate developer Embassy Group and private equity firm Warburg Pincus India, has decided to invest a staggering sum worth Rs. 1,600 crore on its upcoming nine industrial parks in and around cities like Mumbai, Delhi, Bangalore, Chennai, Hyderabad and Ahmedabad. This was stated by Anshul Singhal, CEO, Embassy Industrial Parks, adding that the company is looking to cater to the booming needs for logistics and warehouses space from sectors such as e-commerce, pharma, healthcare, FMCG, apparels and telecom, among others. He added that the company would be creating only Grade A industrial warehouses to be leased out to clients. Embassy Industrial Parks recently invested Rs.350 crore for a project in Pune and Rs.140 crore in Gurgaon. Only last year, Embassy Industrial Parks signed a memorandum of understanding (MoU) with the Haryana government to build three industrial parks in the State, investing Rs.1,910 crore. The emerging scenario indicating that Delhi NCR region, Chennai, Mumbai-Chakan belt and Hyderabad offer immense potential to start warehouse business, he said.
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