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Greenbase Industrial & Logistics Park, a fully-owned subsidiary of Hiranandani Group, announced the lease deal of 2 lakh sq ft built to suit industrial space for Jost India, engaged in the manufacture of components for commercial vehicles and agricultural equipment.
The lease deal is signed for ten years at its self-sustainable mixed-used integrated township Hiranandani Parks at Oragadam. The facility spread across 400 acres will be operational by the end of this year generating employment to nearly 200 people, according to a statement.
“With the signing of this deal, our total delivered portfolio stands at 1.5 million sq ft at Greenbase Chennai, a milestone accomplished in the short span of two years despite the unprecedented covid crisis,” said Niranjan Hiranandani, Founder, Hiranandani Group and Chairman, Greenbase Industrial and Logistics Park.
“With several companies now operational at Greenbase Park, Chennai we have been successfully able to generate direct and indirect employment of approximately 4,000 people. On earmarking this remarkable accomplishment, we strive to work more closely with the government of Tamil Nadu to additionally identify prospective locations to set up more such Industrial Parks,” he added.
Oragadam near Chennai is an emerging economic centre best suited for a hub and spoke model, attracting the right mix of industrial and warehousing companies to set up their facilities.
Greenbase Park aims to designate Oragadam as the new epicentre for the renewable energy industries to set up their industrial and logistics facilities. The well-connected road, rail, and port infrastructure favour multiple industries to establish their hubs in the best-suited location. Companies like Vestas, Gurit, and Hydraspecma have commenced their fully scaled operations from here.
The Hiranandani Group in JV with Blackstone plans to invest more ₹3,000 crore to develop industrial and logistics parks across key cities in India. “The group is actively scouting for new land parcels across the country to further expand its footprint to achieve a business plan of close to 20 mn sq ft in the next five years,” said Hiranandani.
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