Officials said that Shriram Properties Ltd had reached an agreement with LOGOS to potentially sell up to 90 acres of land in Shriram Grand City, Uttarpara, for an undisclosed sum. LOGOS intends to develop the land into a modern and sustainable logistics park, offering about 2.2 million square feet of industrial and warehousing space.

Officials said that the company might invest Rs 766 crore in the project, creating 50,000 direct and indirect jobs in West Bengal. LOGOS Managing Director and Co-CEO said: “We look forward to working with SPL on this future transaction and entering West Bengal, the main gateway to Eastern India, bringing ESG and high-quality logistics and infrastructure to this market best practices in the field,” Trent Iliff said in a statement.

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M Murali, Chairman and Managing Director of Shriram Properties Ltd, added: “LOGOS’ proposed investment in Shriram Grand City will transform the micro-market and allow us to deliver exceptional value to stakeholders of both companies.”