New Delhi, March 10
Everstone-backed IndoSpace has formed a partnership with Reliance Industries arm METL to develop a 55-acre logistics park at Farukhnagar in Haryana.
Model Economic Township Ltd (METL) is a 100% subsidiary of Reliance Industries. The land parcel has a development potential of 1.28 million sq ft.
IndoSpace said it has acquired 55 acres at Farukhnagar in Haryana and this acquisition is a joint venture with the METL. Sources said the METL will have a minority stake in the JV. — PTI