Hyderabad, July 10 -- GMR Hyderabad International Airport Ltd. (GHIAL), a subsidiary of GMR Airports Limited, today announced the acquisition of a 70 percent stake in ESR GMR Logistics Park Private Limited (EGLPPL).
GHAL, a wholly owned subsidiary of GHIAL, already owns the remaining 30 percent in EGLPPL, the airport said in a release here.
EGLPPL was initially formed as a joint venture between GHAL and ESR Hyderabad 1 Pte. Ltd. on January 8, 2020, for the development of warehousing and logistics parks in Hyderabad.
The company has developed around 1.7 million square feet of industrial and logistics infrastructure.
With this strategic acquisition, GHIAL by itself and through GHAL now owns 100 percent of EGLPPL, making it a wholly owned...