India, Sept. 23 -- Sam Industries Ltd has received a Letter of Intent (LOI) from Delhivery Ltd for the construction of a 60,000-square-foot warehouse at Shivaay LogiSpace, Village Dakachiya, Tehsil Sanwer, on A.B. Road near Indore, Madhya Pradesh. The facility, once completed, is proposed to be leased out to Delhivery.
According to the company, the project will be undertaken in the normal course of its business. Under the LOI, Sam Industries will construct the warehouse and lease it to Delhivery for a period of nine years upon completion. The company clarified that neither its promoters nor promoter group companies have any interest in Delhivery and that the arrangement does not fall under related-party transactions.
Published by HT Digit...