Indian industrial and logistics real estate developer IndoSpace plans to infuse 650 crore rupees ($92 million) in Gujarat to advance three logistics parks over the next three years.
The company has started the building work at its first logistics park in Bavla near Ahmedabad which will be spread over 47 acres with a leasable area of 1 million square feet.
The logistics park is situated near the industrial hubs of Sanand and Changodar and has easy entry to Kandla and Mundra ports. IndoSpace intends to construct two more logistics parks in Gujarat with a total leasable area of 1.5 million square feet.
The projects are anticipated to generate employment to over 10,000 people following the completion.