+
Shriram Properties to sell 90 acres of land to LOGOS in Kolkata
Real Estate

Shriram Properties to sell 90 acres of land to LOGOS in Kolkata

Bengaluru-based Shriram Properties Ltd has entered into an agreement with LOGOS for a potential sale of up to 90 acres of land in Shriram Grand City at Uttarpara in Kolkata for a logistics park.

Logos will invest about $100 million in the project, including land and development costs, and plans to construct 2.2 million sq ft of industrial and warehousing space. This will also be the company's first project in West Bengal.

LOGOS plans to create the land into a modern and sustainable logistics park.

The officials said that the company is likely to invest Rs 766 crore in the project, which could create 50,000 direct and indirect jobs in West Bengal.

Managing Director and Co-CEO of LOGOS Trent Iliffe told the media that the company is looking forward to working with SPL on this future transaction and entering West Bengal, the leading gateway to Eastern India, to bring best practices in ESG and high-quality logistics and infrastructure to this market.

Chairman and Managing Director of Shriram Properties Ltd, M Murali, told the media that LOGOS’ offered investment in Shriram Grand City would change the micro-market and allow us to realise superior value for both stakeholders of companies.

The transaction is likely to be completed in the second half of 2022-23 on fulfilment of due diligence and regulatory approvals.

Shriram Properties is now developing an integrated township project, Shriram Grand City, on 314 acres it holds at Uttarpara. Residential apartments on around 4.5 million sq ft for 5,500 families are under development, of which over 500 houses will be handed over later this year.

Image Source

Also read: Shriram Properties records Rs 13.21 cr profit in Dec quarter

Bengaluru-based Shriram Properties Ltd has entered into an agreement with LOGOS for a potential sale of up to 90 acres of land in Shriram Grand City at Uttarpara in Kolkata for a logistics park. Logos will invest about $100 million in the project, including land and development costs, and plans to construct 2.2 million sq ft of industrial and warehousing space. This will also be the company's first project in West Bengal. LOGOS plans to create the land into a modern and sustainable logistics park. The officials said that the company is likely to invest Rs 766 crore in the project, which could create 50,000 direct and indirect jobs in West Bengal. Managing Director and Co-CEO of LOGOS Trent Iliffe told the media that the company is looking forward to working with SPL on this future transaction and entering West Bengal, the leading gateway to Eastern India, to bring best practices in ESG and high-quality logistics and infrastructure to this market. Chairman and Managing Director of Shriram Properties Ltd, M Murali, told the media that LOGOS’ offered investment in Shriram Grand City would change the micro-market and allow us to realise superior value for both stakeholders of companies. The transaction is likely to be completed in the second half of 2022-23 on fulfilment of due diligence and regulatory approvals. Shriram Properties is now developing an integrated township project, Shriram Grand City, on 314 acres it holds at Uttarpara. Residential apartments on around 4.5 million sq ft for 5,500 families are under development, of which over 500 houses will be handed over later this year. Image Source Also read: Shriram Properties records Rs 13.21 cr profit in Dec quarter

Next Story
Real Estate

Shriram Properties Launches ‘Codename: The One’ in Bengaluru

Shriram Properties (SPL), a leading real estate developer focused on the mid-market and mid-premium segments, has announced the launch of its latest residential project under the banner “Codename: The One” in Bengaluru’s Electronic City corridor. This feature-rich gated community will offer 340 spacious 2- and 3-BHK residences, with a total saleable area of approximately 5 lakh square feet and an estimated revenue potential of over Rs 3.5 billion. The project is expected to be developed over a span of more than three years.  Strategically located near the Bommasandra Metro stat..

Next Story
Resources

India Warehousing Show 2025 Closes with Strong Global Presence

The 14th edition of the India Warehousing Show (IWS) 2025 concluded successfully at Yashobhoomi (IICC), Dwarka, drawing participation from over 300 exhibitors across 15 countries and welcoming 15,000+ visitors. Recognised as India’s leading platform for warehousing and logistics excellence, IWS 2025 offered a comprehensive display of cutting-edge automation, sustainable warehousing solutions, and next-gen supply chain technologies. The show was inaugurated by Shri Pankaj Kumar, Joint Secretary – Logistics, DPIIT, Ministry of Commerce and Industry, Government of India. In his opening a..

Next Story
Equipment

MHIET Launches 450kW Gas Cogeneration System with H₂ Co-Firing

Mitsubishi Heavy Industries Engine & Turbocharger (MHIET), part of the Mitsubishi Heavy Industries Group, has launched a new 450kW gas cogeneration system, the SGP M450, jointly developed with Toho Gas Co.,. The system supports hydrogen co-firing at up to 15 vol per cent, with no loss in performance or reliability.  The system is currently available in the Japanese market, and has been developed from the existing GS6R2 city gas engine platform. Key modifications were made to the fuel gas and engine control systems to enable hydrogen co-firing.   Verified through de..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?