Batilogistics, the realty arm of FM Logistic India, has purchased 30 acres of land in the Mumbai region from Lodha Developers for Rs 106 crore to develop a warehousing project.
Batilogistic and Lodha group have inked a Rs 106-crore deal to develop 30 acres land parcel at Palava Industrial and Logistics Park for FM Logistic India, with a total development potential of around 1 million sq ft of warehousing space.
This deal is part of FM Logistic India’s plan to invest USD 150 million in warehousing activities in India announced in 2019.
The development of the park which is located at Thane district in Mumbai Metropolitan Region (MMR) will be undertaken by Batilogistic in phases over the next 3-4 years. This development is part of the 290 acre Palava Industrial and Logistics Park that also includes a joint venture between ESR and Lodha.
Commenting on the deal, Alexandre Amine Soufiani, MD – FM Logistic India, said, “We are committed to providing our customers with high value and high efficiency Grade A warehousing infrastructure.”
Globally, he said, FM Logistic, in collaboration with Batilogistic, is a pioneer in developing and maintaining Grade A warehousing facilities that provide cutting edge supply chain technologies to customers.
“Through our association with the Lodha Group we will gain significant presence to service the neighbouring industrial areas of Thane, Navi Mumbai and Kalyan,” he said.
Shaishav Dharia, CEO, Townships and Rental Assets, Lodha, said, it look forward to enhance the infrastructure and ecosystem for logistics and industrial set-ups in the region.
“Our association will go a long way towards achieving our vision of developing an industrial city and enhancing the economy and jobs at Palava,” he said.
Palava Industrial and Logistics Park is now emerging as a hub in the Mumbai region driven by its high-quality infrastructure, well planned parks and proximity to Navi Mumbai, JNPT port and upcoming international airport.