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Indospace inks two MOUs WITH MIDC for Rs 768 crore investment

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IndoSpace, a developer of industrial & logistics parks, has signed two MoUs with state-owned MIDC for a potential investment of Rs 768 crore.
The MOUs are for the development of projects at MIDC’s Ranjangaon and Chakan industrial parks. On completion, the two projects will generate employment for approximately 4,000 people.
“We are delighted to see the extraordinary efforts of the Central government, as well as the Maharashtra government, during the world-class Make In India week in attracting CEOs of global firms across different sectors,” said Rajesh Jaggi, co-CEO of Indo-Space, and managing partner of Everstone Real Estate.
The MOUs were signed at the Maharashtra Investment Summit during last month’s Make In India drive in Mumbai. “These MoUs will fast-track investment into these projects, accelerate development, and help attract multinational manufacturing companies to
Maharashtra,” said Brian Oravec, CEO of IndoSpace. Last month, IndoSpace announced a proposed investment of $1 billion in India over the next five years, which will fund the development and expansion of its own 17 industrial real estate projects across the country.

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June 2020
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