ESR Group invests Rs 360 Bn in Odisha Logistics Park
WAREHOUSING & LOGISTICS

ESR Group invests Rs 360 Bn in Odisha Logistics Park

On September 13, ESR Group announced its acquisition of 57 acres of land in Cuttack, Odisha, with plans to develop a logistics park at an investment of approximately Rs 360 crore. ESR, a prominent asset manager in the Asia Pacific region, disclosed that this development holds a total potential of 1.2 million square feet.

ESR Cuttack Logistics Park aims to play a pivotal role in supporting the expansion of e-commerce, retail, and third-party logistics (3PL) customers. Abhijit Malkani, CEO of ESR India, noted the growing online and retail consumer base in Odisha as a motivation for the expansion. The facility will integrate green building features to provide a top-notch logistical solution.

The logistics park's initial acquisition included one operational building, which is now fully leased to one of India's largest e-commerce companies. ESR is currently working on the construction of a second building, with plans to accommodate a total of six buildings at the site.

ESR Cuttack Logistics Park holds strategic significance in the eastern part of India, where large, scalable development sites are relatively rare. This marks ESR's entry into the Odisha market.

The demand for logistics facilities in Odisha has surged due to robust economic growth, with the Gross State Domestic Product (GSDP) averaging an annual growth rate of 7.9% over the last decade (excluding the COVID-19-affected year 2020-21). Factors such as increased income, purchasing power, and digital penetration have further fueled this growth.

The warehousing demand is primarily driven by various sectors, including 3PLs, e-commerce, retail, consumer goods, durables, paints, chemicals, automobiles, and ancillaries.

As of June 30, 2023, ESR has a development work-in-progress worth USD 13 billion. ESR India, a subsidiary of ESR Group, specializes in industrial and logistics real estate development and management, with assets under management (AUM) totalling around USD 1.6 billion.

On September 13, ESR Group announced its acquisition of 57 acres of land in Cuttack, Odisha, with plans to develop a logistics park at an investment of approximately Rs 360 crore. ESR, a prominent asset manager in the Asia Pacific region, disclosed that this development holds a total potential of 1.2 million square feet.ESR Cuttack Logistics Park aims to play a pivotal role in supporting the expansion of e-commerce, retail, and third-party logistics (3PL) customers. Abhijit Malkani, CEO of ESR India, noted the growing online and retail consumer base in Odisha as a motivation for the expansion. The facility will integrate green building features to provide a top-notch logistical solution.The logistics park's initial acquisition included one operational building, which is now fully leased to one of India's largest e-commerce companies. ESR is currently working on the construction of a second building, with plans to accommodate a total of six buildings at the site.ESR Cuttack Logistics Park holds strategic significance in the eastern part of India, where large, scalable development sites are relatively rare. This marks ESR's entry into the Odisha market.The demand for logistics facilities in Odisha has surged due to robust economic growth, with the Gross State Domestic Product (GSDP) averaging an annual growth rate of 7.9% over the last decade (excluding the COVID-19-affected year 2020-21). Factors such as increased income, purchasing power, and digital penetration have further fueled this growth.The warehousing demand is primarily driven by various sectors, including 3PLs, e-commerce, retail, consumer goods, durables, paints, chemicals, automobiles, and ancillaries.As of June 30, 2023, ESR has a development work-in-progress worth USD 13 billion. ESR India, a subsidiary of ESR Group, specializes in industrial and logistics real estate development and management, with assets under management (AUM) totalling around USD 1.6 billion.

Next Story
Infrastructure Energy

Adyant Enersol & UPC Renewables Secure SJVN's 600 MW Wind Project

Adyant Enersol (Datta Infra) and UPC Renewables secured contracts in SJVN’s auction to develop 600 MW inter-state transmission system (ISTS)-connected wind power projects under a build-own-operate model. Adyant Enersol was awarded 70 MW with a tariff of Rs 3.98/kWh, while UPC Renewables secured 100 MW at a tariff of Rs 3.99/kWh. The tender for these projects was issued in March 2024, allowing bidders to submit proposals for capacities ranging from a minimum of 50 MW to a maximum of 300 MW, with project sizes specified in multiples of 10 MW. The selected developers are required to establis..

Next Story
Infrastructure Energy

Bridge and Roof Secures SJVN Contract for 100 MW Solar Project

Bridge and Roof Company, a government enterprise under the Ministry of Heavy Industries, has secured the engineering, procurement, and construction contract from SJVN Green Energy to establish a 100 MW solar power project in Rajasthan’s Didwana-Kuchaman district. The project is valued at approximately Rs 3.5 billion. The tender was issued in April 2024. The scope of work includes land development, design and engineering, procurement of equipment and materials, testing at the manufacturer’s facility, packing, transportation, supply, unloading, on-site storage, installation, erection, test..

Next Story
Infrastructure Transport

NHAI Uses AI and Drones to Detect 1,000 Encroachments on Highways

The National Highway Authority of India (NHAI) has implemented artificial intelligence (AI) and drone technology to detect approximately 1,000 encroachments on four major national highways. This initiative aims to address obstacles that hinder road construction projects and ensure their timely completion. The survey covered a span of about 360 kilometres, utilising high-frequency drones to capture detailed aerial images of the highways. AI-driven algorithms analysed these images to identify potential encroachments, including parked vehicles, construction materials, and makeshift structures. F..

Hi There!

"Now get regular updates from CW Magazine on WhatsApp!

Join the CW WhatsApp channel for the latest news, industry events, expert insights, and project updates from the construction and infrastructure industry.

Click the link below to join"

+91 81086 03000