French logistics company FM Logistic will spend about 1,000 crore rupees ($145.7 million) to develop new warehouses in India.
With the infusion, FM Logistics intends to focus on multi-client warehouses within five cities including four metropolitan cities in the next five years.
The company is in the process of negotiating with local and international financial partners for funding and will also use its own equity to support its project.
FM Logistics said that the opening of its first multi-client warehouse in Mumbai will be followed by another in Delhi National Capital Region, expected to start operations next month and hence create 500 jobs in next 12 months.