Blackstone partners with Casagrand to develop industrial parks in Chennai

Blackstone will invest about Rs 700 crore to develop two Grade A industrial and logistics parks across 154 acres in Sriperumbudur with Casagrand Industrial & Warehousing

Blackstone, one of the world’s largest alternative investment firms, has signed a strategic investment deal with Casagrand Industrial & Warehousing to develop two large-scale industrial and logistics parks across 154 acres at Sriperumbudur in Chennai.

 

The global major will invest around Rs 700 crore to develop 4.2 million square feet of modern, Grade A industrial and warehousing infrastructure. Casagrand Industrial & Warehousing specialises in world-class industrial space and warehousing, both dedicated and multi-user, in strategic locations.

 

What will the Blackstone–Casagrand partnership bring to Tamil Nadu’s logistics corridor?

 

Built to accommodate e-commerce, 3PL and a broad spectrum of manufacturing occupiers, the developments aim to introduce a new tier of institutional-grade logistics and industrial assets to one of India’s most dynamic industrial corridors. The projects are expected to reach a gross development value of Rs 1,500 crore upon completion.

 

Casagrand Industrial & Warehousing has already delivered 6 million sq ft and is executing a 15 million sq ft pipeline. The state’s industrial growth — primarily driven by electronics, automotive and export-oriented manufacturing — has accelerated the need for high-specification logistics and industrial infrastructure.

 

Arun Mn, founder, chairman and managing director, Casagrand Group, said, “Our partnership with Blackstone marks a pivotal step in our journey to redefine the industrial and logistics landscape in Tamil Nadu. We are not just developing industrial parks; we are creating future-ready ecosystems that enable global manufacturers to operate with scale, speed and world-class efficiency. With Blackstone’s global expertise and our deep regional understanding, we are confident of setting a new benchmark for industrial infrastructure in the country.”

 

How soon will construction begin, and who are the early occupants?

 

Construction on both parks will begin shortly, with phased development planned to meet rising industrial demand in the Sriperumbudur corridor. Part of the projects is already pre-leased to an Indian auto major for developing an auto–spare parts consolidation facility, and is also further expected to attract a mix of global and domestic occupants.

 

How fast will the parks be delivered?

 

Riding on the strength of its in-house engineering, procurement and construction capability — which consists of 2,200 engineers — the company aims to complete the entire project within 24–30 months. Together, Blackstone and Casagrand Industrial & Warehousing aim to deliver high-quality assets that support India’s expanding manufacturing ambition.