JAPAN’S FLYJAC LOGISTICS BUYS 22.3-ACRE LAND PARCEL AT LODHA’S INDUSTRIAL PARK NEAR MUMBAI
Flyjac Logistics, subsidiary of Japanese logistics company Hitachi Transport System Group, has acquired an over 22.3-acre land parcel from Lodha Group at its Palava Industrial and Logistics Park (PILP) near Mumbai.
Both the entities–Lodha also known as Macrotech Developers and Flyjac, which is one of the largest integrated logistic service providers–have already signed the deal. The land parcel has a total development potential of 1 million sq ft.
Flyjac Logistics, one of the largest integrated logistic service providers, already has such warehousing facilities operational across India. However, this transaction represents their first outright buy of land parcel in western India to set up a warehousing facility. Most of the third-party logistics major’s warehousing facilities in western region are leased assets.