GreenBase, Tamil Nadu sign MoU to set up industrial, logistics park

The setting up of the park would see creation of multiple direct and indirect jobs besides boosting the socio-economic growth in the regiongreenbase

: GreenBase, a Hiranandani Group

subsidiary, on Wednesday said it has signed a memorandum of understanding (MoU) with the Tamil Nadu government to set up an industrial and logistics park near here at an investment of Rs 750 crore.

The setting up of the park would see creation of multiple direct and indirect jobs besides boosting the socio-economic growth in the region.

"The MoU with the government will see GreenBase invest Rs 750 crore to develop an industrial and logistics park at Vadakkuppattu, Oragadam, yielding multiple direct and indirect job opportunities," founder of Hiranandani Group, engaged in real estate business, Niranjan Hiranandani said.

The proposed park, about 45 kms from the city, envisages development of 2.8 million square feet of built-up area for companies planning to set up manufacturing and logistics units.

GreenBase COO Hemant Prabhu Keluskar said the industrial park is amid the sprawling mixed-use integrated township 'Hiranandani Parks' at Oragadam offering a cutting-edge advantage with a fully developed integrated socio-civic ecosystem and modern infrastructure.

With 700 acres of seed land bank across Chennai, Pune, Nashik, Mumbai, and Durgapur, GreenBase has made rapid strides in a short time and is on course to deliver close to 12 million square feet in the next 3-5 years.

"Expansion plans are in place to enter into other tier-I and II markets," the statement added.