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GLP-Everstone JV earmarks US$500M to improve India's logistics ecosystem

A joint venture between GLP Pte. Ltd. and Everstone Group is planning to invest approximately US$500 million in strategies and technologies targeted toward improving the logistics ecosystem in India.

The partnership, which is the first of its kind in the country, sees opportunities in express delivery, smart trucks, telematics and automation/robotics, according to a press release.

The joint venture between the Singapore-based privatized logistics provider and the investment group focused on India and South East Asia is looking to capitalize on GLP's expertise in pioneering modern logistics ecosystems and on Everstone's expanding network through the latter's private equity, infrastructure and real estate portfolio, the pair added.

GLP entered India in September through a separate team-up with IndoSpace, which at the time held more than US$2 billion worth of assets under management.