ESR, Germany's Allianz to jointly invest $1 billion in India
German financial services major Allianz has tied up with logistics developer e-Shang Redwood (ESR) to jointly invest around $1 billion in India's logistics sector. The joint venture will focus on developing large-scale logistics and industrial facilities in eight cities including Chennai, Ahmedabad, Pune and Bengaluru. ESR is one of Asia's largest developers and operators in logistics and warehousing.