ESR signs MoU with Karnataka govt to invest ₹2,500-cr

ESR Group has signed an MoU (Memorandum of Understanding) with the government of Karnataka, envisaging ₹2,500 crore investment over a period of three years for setting up industrial and logistics parks, urban distribution centres and data centres.

ESR India, part of the ESR Group, is a leading developer and manager of industrial and logistics real estate with assets under management of about USD 1.7 billion and over 18 million square feet of gross floor area.

Abhijit Malkani, CEO, ESR India, informed that Karnataka is a significant market due to its mature industrial ecosystem. “We aim to bring world-class development expertise in industrial and logistics parks, urban distribution centres and data centres to enrich the state's industrial, logistics and data infrastructure."

The agreement will accelerate development and attract more investments from multinational and national companies. It will also help generate 5,500 jobs in Karnataka.