Hiranandani Industrial & Logistics Platform Signs a Two Lakh Square Foot Agreement in Oragadam, Chennai

Greenbase Industrial & Logistics Park (a joint venture between the Niranjan Hiranandani Group and Blackstone) has announced a lease agreement for 2 lakh square feet of built-to-suit industrial space with Jost India, a global leader in the manufacturing of components for commercial vehicles and agricultural equipment. 

The leasing agreement is for a period of ten years at Hiranandani Parks, Oragadam, a self-sustaining mixed-use integrated township spanning over 400 acres in South-West Chennai. The agreement was inked by S Raghuraman, vice president of Greenbase Industrial Park in Chennai, and G Pradeep, managing director of Jost India Components. The plant is expected to be completed and functioning by the end of 2022, creating almost 200 jobs.

"With this transaction, our total delivered portfolio at Greenbase Chennai reaches 1.5 million square feet, a milestone achieved in less than two years despite the unprecedented covid crisis," says Dr Niranjan Hiranandani, founder of the Hiranandani Group and chairman of Greenbase Industrial and Logistics Park.

The Hiranandani Group, in collaboration with Blackstone, remains committed to investing over Rs 3000 crores in important Indian cities to create industrial and logistics parks. The current land bank of over 500 acres distributed across four sites is earmarked for the building of 15 million square feet of Industrial and Logistics Parks. The firm is constantly seeking additional land parcels around the nation in order to further grow its footprint and meet a business strategy of about 20 million square feet in the next five years."

Additionally, he said that "with multiple enterprises already running at Greenbase Park in Chennai, we have successfully generated roughly 4000 direct and indirect jobs." On the heels of this great achievement, we want to engage even more closely with the Tamil Nadu government to find more potential places for such industrial parks.

"Oragadam, Chennai is a developing economic centre that is well-suited for a hub and spoke strategy, attracting the ideal mix of industrial and warehousing enterprises to establish operations in South Asia's Detroit. Globally renowned enterprises like as Vestas, Gurit, and Hydraspecma have successfully expanded their operations from Greenbase Parks, Oragadam, creating direct and indirect job possibilities for a diverse workforce.

According to Hemant Prabhu, COO of Greenbase, "this relationship will foster profound synergies between the two illustrious organisations, allowing the comprehensive growth of the infrastructure ecosystem."