hyderabad gmr infrastructure ltd on thursday informed the bourses that its stepdown subsidiary gmr hyderabad aerotropolis limited ghal has entered into a joint venture with esr hyderabad 1 pte limited esr a subsidiary of hong kongheadquartered esr cayman limited to develop a logistics and industrial park at the hyderabad airport citythe park which is proposed to be developed over 66 acres at a project outlay of rs 550 crore will be developed by a special purpose vehicle gmr logistics park private limited in which esr and ghal will hold 70 and 30 stake respectively ghal is a subsidiary of ghial which operates the rajiv gandhi international airport at shamshabad hyderabadgmr group said in a regulatory filing that the jv will develop a flagship airport centric logistics and industrial park with stateoftheart facilities for warehousing distribution centers and nonpolluting industrial units such as light assembly facilitiesesr india country heads abhijit malkani and jai mirpuri said the collaboration reiterates esrs strategic mission to strengthen its facilities and key positions across the country this new facility at hyderabad airport is our latest investment to support national and global trade to and from telangana being strategically located this facility showcasing smart sustainable and humancentric design will pave way for indian and global companies to capitalize on the immense growth opportunities available in the indian market malkani saidaman kapoor ceoairport land development gmr group said this collaboration will set new standards for the warehousing and industrial real estate sector and will also benefit the burgeoning cargo industry in the region gmr group which also runs the indira gandhi international airport in new delhi and has bagged the mopa project in goa is developing unique airport cities on the commercial land available around these three airportsesr which has been cofounded by warburg pincus claims to be the largest asiapacific focused logistics real estate platform by gross floor area gfa value of assets owned directly and by funds and investment vehicles it manages it has a presence in china japan south korea singapore australia and india