GreenBase, a subsidiary company of the Hiranandani Group, has signed an MoU with the government of Tamil Nadu to develop an industrial and logistics park at Oragadam in Chennai. In December last year, global PE firm Blackstone Group Inc formed a joint venture with GreenBase to mark its entry into the Indian warehousing and logistics sector.
During the signing of the MoU, Greenbase’s COO Hemant Prabhu Keluskar and S Raghuraman (business head, south), were present.
The MoU will see GreenBase invest INR 750 crore to develop an industrial and logistics park at Vadakkuppattu, Oragadam, and will see multiple direct & indirect job opportunities. This sector is the backbone of trade across geographies, and the drafting of a National Logistics Policy will boost trade growth, generate employment, and improve global competitiveness.”~ Dr Niranjan Hiranandani, founder & MD, Hiranandani Group
The industrial & logistics park at Oragadam envisages development of 2.8 million sq-ft of built-up area for companies seeking to set up manufacturing and logistics units.
The Tamil Nadu government will extend the necessary support in the form of infrastructural support, regulatory permissions and registrations subject to the applicable laws. Further, it will encourage single-window clearance to expedite the approval process in a seamless manner.
“The industrial park is well located amidst the sprawling mixed-use integrated township ‘Hiranandani Parks’ in Oragadam offering a cutting-edge advantage with a fully developed integrated socio-civic ecosystem and modern infrastructure. Additionally, subject to eligibility, standard incentives as per the Tamil Nadu Industrial Policy, 2014 will be made available to companies who set up manufacturing units at GreenBase Industrial & Logistics Park,”~ Hemant Prabhu Keluskar, COO, Green Base
GreenBase has a total land bank of 700 acres across Chennai, Pune, Nashik, Mumbai, and Durgapur. The company has made rapid strides in a short span of time and is on course to deliver close to 12 million sq-ft in the next 3-5 years. And, expansion plans are in place to enter into other tier 1 and tier 2 markets.