Global Auto Parts Companies including Benteler, Lumax Lease Production Space at Horizon Industrial Parks, Pune

Pune:

Horizon Industrial Parks, sponsored by the Blackstone Group, has leased approximately 410,000 square feet of custom-built production space to automotive companies like Germany's Benteler Automotive and the Lumax-DK Jain Group's Lumax Auto Technologies in its Chakan, Pune park.

Benteler Automotive, a global leader in automotive technology, steel and tube manufacturing, and engineering, has acquired a 150,000-square-foot facility with plug-and-play capabilities.

In the same industrial park, the automotive lighting industry's Lumax has also acquired 260,000 square feet.

Benteler and Lumax have leased the production facilities for nine and five years, respectively, with an option to extend the lease period.

Manufacturing businesses entering India are seeking plug-and-play manufacturing solutions with worldwide benchmarks as per Rahul Pandit, CEO of Horizon Industrial Parks.

We are eager to provide them with amenities that facilitate a swift launch and allow them to concentrate on their core business. Our beliefs towards the creation of a sustainable future are comparable, as are our efforts to minimise carbon emissions.

This is the first time Lumax has ever rented a building; the firm has operated from its own property for almost seven decades.

Mukund Gangane, managing director of Benteler Automotive India, said that the relocation of equipment from the present facility to the new site took less than 90 days. With this new plant, Benteler is poised to become one of the country's major makers of rear axles.

The newly-leased site will serve as a production centre for a variety of car lighting systems and application-specific solutions for Lumax.

Dhanesh Kumar Jain, chairman of the Lumax DK Jain Group, said that historically, Lumax operated out of independent buildings, but the Horizon Industrial Parks amenities led them to relocate as they provide worldwide technological expertise and offer a one-stop shop for our industrial real estate requirements.

Blackstone Real Estate Funds own and operate Horizon Industrial Parks in India, which is a logistics platform. The present portfolio consists of 19 industrial and logistics parks spanning over 1,050 acres across eight of India's most important marketplaces, with a development potential of 26 million square feet.