Global logistics major Panattoni Group plans to invest an estimated amount of EUR 100 Million in India, by the end of FY24 covering approximately 7-8 MN SqFt built-up area. The Indian arm of the company, Panattoni India Development Pvt Ltd, has acquired approximately 17 acres of land for developing a logistics park in New Delhi.
The logistics park under the name “Panattoni Park” will see an estimated investment of 110 INR Crores. It will be located on National Highway 352 in Delhi NCR and will be developed in a phased manner. Phase I of the project will span over approximately 717,000 SqFt and have a built-up area of 360,000 SqFt. The construction is anticipated to start in March 2024 and be completed in Q4 of FY25. As of December 2023, the project is under approval.
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Panattoni Park will be developed in partnership with an Institutional Investor, whereas the company is targeting e-commerce, FMCG, white goods, and auto components firms as potential clients. The project will follow US and European standards for engineering aspects.
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Disclaimer: The information contained herein has been compiled or arrived at, based upon information obtained in good faith from sources believed to be reliable. All such information and opinions can be subject to change. The image featured in this article is for representation purposes only and does not in any way represent the project. If you wish the article to be removed or edited, please email editor@biltrax.com.
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