WS Industries (India) Limited was the successful bidder for a property, measuring 254 acres located at Sunguvarchatram in Tamil Nadu, under auction by Central Bank of India . The total project outlay for land is ₹107.35 crore, says a release.
The company plans a logistics park, and proposes to develop an integrated township with ‘attendant’ infrastructure. The land is situated in the prime industrial hub of Sriperumbudur, Sunguvar Chatram and Oragadam and is in close proximity to major multinational companies.
On completion of the land acquisition, detailed plans including optimal land use, will enable the company to leverage on this acquisition and lead to consequent value maximisation, the release said.
S Nagarajan, Chairman, WS Industries, said that the company would associate with relevant industry leaders and financial institutions to develop this project and generate annuity and significant revenues.
On the infrastructure vertical, the company is participating in both projects of the State, Centreand private sector projects. The focus on capex by the government and the private sector will enable the company to achieve significant growth in the forthcoming years, the release said.