Source: LiveMint.com, June 26, 2017
Mumbai: International logistics developer e-Shang Redwood (ESR) is returning to India with plans to invest over $100 million in the country annually, a top executive at the company said.
Warburg Pincus-backed ESR is one of Asia’s largest developers and operators in logistics and warehousing. It was formed by the merger of e-Shang Cayman Ltd and Redwood Group Asia Pte. Ltd in 2016. Based out of Hong Kong and Singapore, it owns and manages around 7.3 million sq. metres of assets in China, Japan, Singapore and South Korea.
Between 2006 and 2009, Redwood Group (before its merger with e-Shang) had secured land and started discussions to form joint ventures in India, but none of the projects took off. The company finally decided to leave India in 2011 to concentrate in the “more institutional, liquid and capital-intensive logistics markets of Japan, China and South Korea around the time,” Charles de Portes, co-founder and president of ESR, told Mint over the phone Read the rest of this entry »