Hyderabad-based infrastructure company Ancon Group has announced its plan to invest Rs 400 crore in setting up eight-10 logistics parks across the country over the next five years.

The company unveiled its first integrated logistics park in the public-private partnership mode at Mangalapally in Hyderabad, Telangana on 11 October 2019. Over the next five years, Ancon Group aims to develop logistics parks spread across two million sq ft in cities such as Hyderabad, Bengaluru, Visakhapatnam, Nagpur and Gurugram.

The expansion will be funded through a mix of equity and debt. Half the proposed expansion will take place in Hyderabad with around one million sq ft of space to come up across four logistics parks in and around the city.

Mangalapally park has been set up in partnership with the Hyderabad Metropolitan Development Authority (HMDA). The 22-acre park will have built-up space of 2.5 lakh sq ft comprising warehouses, truck parking space and co-located work spaces.

The company has already opened up 1.2 lakh sq ft space at an investment of Rs 40 crore and will be investing another Rs 10 crore in the remaining 1.25 lakh sq ft that will be ready by July 2020. The park will create 800-1,000 direct jobs.