GMR forms JV with ESR to build logistics park in Hyderabad for $77m

Photo: Mint

GMR Hyderabad Aerotropolis Ltd, a subsidiary of GMR Hyderabad lnternationaI Airport Limited, has formed a joint venture with global logistics real estate firm ESR to jointly develop a 66-acre logistics park in Hyderabad for 550 crore.

ESR and GMR have entered into definitive agreements with an equity interest of 70% and 30% respectively in the special purpose vehicle (SPV), namely, GMR Logistics Park Pvt Ltd, both the companies said in a statement.

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