Industrial and logistics real estate developer IndoSpace is set to develop two hubs in Karnataka for an investment of Rs 580 crore, the company said in a statement on August 22.

This is a part of a larger Rs 3,000 crore commitment made under a Memorandum of Understanding (MoU) inked with the Government of Karnataka in 2022.

Spread over 75-plus acres, the two facilities will cater to a range of industries including automobiles, engineering, electronics, as well as third party logistics (3PL) operators, the company statement said.

IndoSpace Nelamangala II logistics park entails an investment of Rs 240 crore and spans over 35 acres along the Bengaluru-Mumbai highway (NH48).

Meanwhile, IndoSpace Narasapura II, with an investment of Rs 340 crore, is spread across more than 40 acres. It is situated off Old Madras Road, (NH 75), with proximity to major industrial hubs like Vemgal, Malur and Hoskote.