Ascendas India Trust to acquire 7th warehouse in India for 2.15b rupees

Singapore

ASCENDAS India Trust (a-iTrust) is planning to finance the construction of an additional warehouse in western India and acquire it upon completion for a total investment of around 2.15 billion Indian rupees (S$42.1 million).

The warehouse is to be located in the Arshiya Free Trade Warehousing Zone (FTWZ) in Panvel near Mumbai in western India, and will have a total leasable area of 325,503 square feet (sq ft), the trustee-manager of the mainboard-listed business trust said on Thursday.