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Logos to set up logistics park in Kolkata

Tuesday, 26 Apr 2022
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Logos, a logistics company, has entered into a pact with Shriram Properties, a real estate developer, to acquire a 90 acre land parcel in its integrated township project Shriram Grand City at Uttarpara in Kolkata, West Bengal. 
The logistics firm will make an investment of over USD 100 million (over Rs 766 crore) for development of a warehousing and logistics park. The park will spread over a total 2.2 million sq ft. 
Presently, Shriram Properties is developing this integrated township project on a 314 acre land parcel owned by the company. 
The company intends to develop 10 million sq ft of saleable area for residential development and sell the remaining area to strategic partners for other formats of development. The proposed sale of land is integral to this strategy. 
The deal is expected to be completed in H2/FY23 following the completion of due-diligence and receipt of requisite approvals. 
The warehousing project is expected to generate 50,000 jobs in West Bengal.
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