The new JV to create more jobs in logistics and warehousing!
The country is going through economic slowdown nonetheless, there are few sectors that are faring. Logistics and warehousing are one such sectors that are doing significantly well. Moreover, with the recent joint venture of global equity firm Blackstone Group Inc with Greenbase, a Hiranandani group firm there is going to be an increase in the development of warehousing and logistics parks across the country.This marks the entry of Blackstone, a US-based company, into the Indian warehousing and logistics sector.
The equal joint venture plans to invest ₹2500 crore to develop around 12 million sqft of industrial and warehousing assets across the country in three to four years, said NiranjanHiranandani, founder and managing director, Hiranandani Group.
“We have a very bullish view on the economy in the long term. Logistics and warehousing will be one of the major beneficiaries of this growth. The joint venture’s investment will also contribute to economic growth as well as employment generation in the relevant locations," Hiranandani said.