GreenBase has inked an MoU with the government of Tamil Nadu. It has a joint venture with global private equity firm Blackstone Group and is a pan-India platform to build industrial, logistics and warehousing assets. Greenbase’s COO Hemant Prabhu Keluskar and S Raghuraman (business head, south), were present at the occasion.
Dr Niranjan Hiranandani, founder & MD, Hiranandani Group, said: “The MoU with will see GreenBase invest Rs 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.”
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 TN government will extend support in the form of necessary infrastructural support, regulatory permissions and registrations subject to the applicable laws. It will encourage single-window clearance to expedite the approval process in a seamless manner.
Keluskar said, “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.”
GreenBase, with 700 acres of seed land bank across Chennai, Pune, Nashik, Mumbai, and Durgapur, 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. Expansion plans are in place to enter into other tier 1 and tier 2 markets.