Kolkata, Apr 26 (PTI) Shriram Properties Ltd has entered into an agreement with LOGOS for potential sale of up to 90 acres of land in Shriram Grand City at Uttarpara here for an undisclosed sum, officials said.

LOGOS intends to develop the land into a modern and sustainable logistics park, offering around 2.2 million square feet of industrial and warehousing space, they said.

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The company is likely to invest Rs 766 crore in the project, which could generate 50,000 direct and indirect jobs in West Bengal, the officials said.

"We look forward to working with SPL on this future transaction and entering West Bengal, the leading gateway to Eastern India, to bring best practices in ESG and high-quality logistics and infrastructure to this market," Managing Director and Co-CEO of LOGOS Trent Iliffe said in a statement.

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Chairman and Managing Director of Shriram Properties Ltd, M Murali, added: "LOGOS's proposed investment in Shriram Grand City will transform the micro-market and allow us to realise superior value for both companies' stakeholders.”

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)