Avigna Industrial & Logistics Park to invest Rs 500-600 crore to develop a warehousing project in Karnataka
It plans to hand over the first 1 million sq.ft at the Hoskote Industrial Park in 2022-23.
Expanding its industrial warehouses in the country, Avigna Industrial and Logistics Park, has ventured into Hoskote in Karnataka, with a 4 million sq ft Grade A warehousing facility and will be investing Rs 500 to Rs 600 crore on the project, the company said.
With an investment between Rs 500-600 crore, this project by far is going to be the largest asset in the area. The industrial park will have a Grade A warehousing capacity, to cater to the most technologically advanced requirement for the supply chain management, the company said in a statement.
Avigna plans to hand over the first 1 million sq.ft at the Hoskote Industrial Park in 2022-23.
The company recently leased out their first 1 million sq. ft space of industrial warehouse at Hosur Park in Tamil Nadu to marquee brands such as Whirlpool, Wakefit and Stellar Value Chain and is looking forward to achieve similar success with the Hoskote Industrial Park.
“The construction of industrial warehouse has begun after the laying of the foundation stone at Hoskote, Karnataka. Such a development will fill a gap in the demand for modern, state of the art warehousing and logistics facilities in India for which we are already in discussion with multiple clients,” said Abhijit Verma, the Executive Director and CEO at Avigna Group.
The project is a part of Avigna’s Rs 2000 crore expansion plan to have a footprint of 10 million sq ft warehouse space over the next three years.
Besides warehouses in Hosur (TN), Chennai (TN) and Nellore (Andhra Pradesh), Avigna is also looking at a PAN India expansion establishing its presence in the Western (Bhiwandi, Jaipur), Northern (Farrukhnagar, Haryana) and Eastern India (Patna, Guwahati, Kolkata).