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Raheja Corp in pact with US firm ProLogis
April 12, 2008: K Raheja Corp and Denver-based ProLogis, have entered into a 50:50 joint venture agreement for warehousing and logistic infrastructure development in India.
The joint venture will acquire land, develop properties and manage assets. Initial focus will be on Mumbai, Chennai, Delhi, Bangalore, Kolkata, and Pune with an investment of Rs.2,300 crore.
To begin with, the promoters have acquired 27 acres at Loni, near Pune. The joint venture proposes to develop 7.5 million sq ft in three years and a total of 25 million sq ft by the end of five years.
Source: Hindu Business Line