Greenbase Industrial and Logistics Park, a joint venture between Niranjan Hiranandani Group and Blackstone, said that it has signed a lease agreement for 200,000 square feet of industrial space with Jost India in its integrated township Hiranandani Parks at Oragadam in South-West Chennai.
Jost India, a global leader in manufacturing components for commercial vehicles and agricultural equipment, is planning to make the facility operational by the end of 2022 generating employment for nearly 200 people.
“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.
The existing land bank of close to 500 acres spread across four locations is dedicated for 15 mn sq. ft of industrial and logistics parks development. “The group is actively scouting for new land parcels across the length of the country to further expand its footprint to achieve a business plan of close to 20 mn sq. ft in the next five years,” he added.
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.
Speaking on the occasion, Hemant Prabhu, Chief Operating Officer at Greenbase said, “This partnership will certainly build the deep synergies between the two organisations of a great repute, enabling an opportunity for the holistic development of the infrastructure ecosystem.”
