Greenbase Industrial and Logistics Park, a joint venture of Niranjan Hiranandani Group and Blackstone, has agreed to a rent agreement with Jost India for 200,000 square feet of industrial space in its integrated township Hiranandani Parks at Oragadam in South-West Chennai. Jost India, a global leader in the manufacturing of components for commercial vehicles and agricultural equipment, plans to open the factory by the end of 2022, employing over 200 people.
A land bank of about 500 acres spread across four areas has been set aside for the building of 15 million square feet of industrial and logistics parks. “The company is currently looking for fresh land parcels to extend its size to around 20 million square feet in the next five years.”
“With the signing of this deal, our total delivered portfolio stands at 1.5 mn sq. ft at Greenbase Chennai, a milestone accomplished in the short span of two years despite the unprecedented covid crisis. The Hiranandani Group in JV with Blackstone stays committed to investing over Rs 3,000 crore to develop industrial and logistics parks across key cities in India,’’ said Niranjan Hiranandani, founder of Hiranandani Group and Chairman of Greenbase Industrial and Logistics Park.
Oragadam, 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 in the Detroit of South Asia. 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 favours multiple industries to establish their hubs in the best-suited location. The globally acclaimed companies like Vestas, Gurit, and Hydraspecma have commenced their fully scaled operations from Greenbase Parks, and Oragadam providing direct and indirect employment opportunities to a multi-layered workforce successfully.
