Gurgaon, India: Embassy Industrial Parks, a joint venture between property developer Embassy Group and PE firm Warburg Pincus, today signed an MoU with Haryana Government to develop three industrial parks around Gurgaon with a projected investment of Rs 1,910 crores.
The agreement for the developmental projects, which are
expected to generate employment opportunities for 4,000 people, was signed at the
two-day ‘Happening Haryana Global Investors Summit 2016’, which concluded here
today.
The industrial parks will support
the booming E-commerce as well as the retail and FMCG companies to consolidate
in a post GST scenario, an official release said.
Anshul Singhal, Chief Executive Officer, Embassy Industrial
Parks, commented, “We are happy to see the proactive and professional approach
of the Haryana government to help private companies grow operations in the
state of Haryana. Embassy Industrial Parks is confident of achieving its goals
in the state with the support of the government. We promise to host world class
infrastructure that will help both multinational and domestic companies set-up
factory operations in the state.”
The proposed warehousing project will span the development
of integrated Industrial and Logistics Parks with support facilities and also
target industrial light manufacturing clients to set up build to suit manufacturing
facility/ready built factories in these parks, he said.
The project will be developed on the outskirts of Gurgaon,
on NH-8 or within 10 – 15 kilometers from NH-8. The state government will acquire
land and provide necessary approvals for the projects, apart from providing
incentives to ensure their sustainability.
Though the warehousing sector has been largely unorganized
and fragmented, the demand for modern warehouse infrastructure has seen a surge
in recent times. Rapid growth of retail, manufacturing and related industry
segments coupled with an influx of investment will only push this sector to new
heights, the release further added.
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