- Black Stone and Hiranandani strike deal
- JV to focus on logistics, warehousing sector development
Reputed reality firm Hiranandani Group and a private equity firm Black Stone are going to invest heavily in India as part of their joint venture called GreenBase. The joint venture to invest Rs 3000 crore in important towns and cities across the country for industrial development, logistics and warehousing parks development.
Mr N Shridhar, CEO of GreenBase, said this segment will definitely grow as the economy will boost up in the near future. India’s logistics sector will witness a huge demand scenario keeping in mind higher economic activities in near future and the company is planning to take advantage of this growing demand. He said the company is also planning to list the industrial and logistics portfolio overseas or in India with the help of a Real Estate Investment Trust(REIT).
Mr Niranjan Hiranandani, MD of Hiranandani Group, is very sure that this joint venture would be successful in the coming years as India will soon become a $5 trillion economy as the government is also planning its expansion plans to achieve this figure. Logistics & Warehousing will also witness growth as the economy progresses and he also said that our country is going in the right direction and will soon become a manufacturing hub.
