(Image courtesy: Embassy Industrial Parks)
Embassy Industrial Parks has announced its foray into South India where it has acquired 60 acres of real estate in Hosur and is planning to build a warehousing facility spread across 1.3 million square feet. The total cost for the project is Rs 280 crore, the company said.
The facility is located along the industrial corridor between Bengaluru and Chennai and is barely 60 kms from Bengaluru city centre.
The warehousing location is only 25 km from the State Industries Promotion Corporation of Tamilnadu Limited (SIPCOT) which is spread over 1200 acres and provides key support for the development of medium and large industries, sources said.
Hosur is home to multiple units that produce products from trucks, automobile parts, motor cycles, textiles, electronics, TV sets and diesel engines.
“We feel that Hosur post-GST is the next warehousing hub in South India. We plan to acquire more land there. This park will bolster our core offering to clients in this region who can now breathe easily. We have already defined our footprint in the North so moving around the country was the obvious next step. We have a clear ambition to scale our business rapidly, and selecting the right locations is allowing us to facilitate this process," says Anshul Singhal, CEO, Embassy Industrial Parks.
Embassy Industrial Parks is building a 35 million square feet portfolio of next-generation warehousing and logistics solutions. Currently, it has three functional logistics and industrial parks in Delhi NCR and Pune.
Next on the anvil are five assets in Hyderabad, Bengaluru, Delhi NCR, Mumbai and Chennai, the company said.
Till date, the company has secured developmental potential of approximately 13 million square feet, of which 2 million will be operational soon, it added.