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ESR India to invest Rs 550 crore in Tamil Nadu to set up two industrial parks in the state

The MOU has been signed for the launch of two industrial parks in Kancheepuram and Krishnagiri districts of the state over the next five years.

The MoU was signed at the Investment Conclave 2021 conference held on July 21.

The MoU was signed at the Investment Conclave 2021 conference held on July 21.

An industrial and logistics real estate platform, ESR India, will be investing Rs 550 crore in Tamil Nadu to set up two industrial parks in the state for which it has inked a Memorandum of Understanding (MoU) with the state government.

The MOU has been signed for the launch of two industrial parks in Kancheepuram and Krishnagiri districts of the state over the next five years. Once fully operational, the two projects have the potential to create over 4,400 jobs in the facility that shall boost the overall socio-economic growth in the region, the company said in a statement.

The MoU was signed at the Investment Conclave 2021 conference held on July 21.

It will facilitate ESR India’s proposed investment at Kancheepuram and Krishnagiri industrial parks by helping in streamlining land acquisition, approvals, clearances, and administrative processes as per existing policies, rules, and regulations of the Government of Tamil Nadu.

"We are delighted to announce our affiliation with the state government. The Government of Tamil Nadu has been very supportive in encouraging industrial developments in the state by creating a favourable business climate for industrial players. The MoU will see ESR invest Rs 550 crores to develop industrial parks in Tamil Nadu, offering 1,800 direct and 2,600 indirect job opportunities in the facility,” said Abhijit Malkani, CEO and country head, ESR India.

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“Our goals are aligned with the vision of the Tamil Nadu Government, to create avenues to increase business and trade inclusion opportunities and employment towards garnering better economic growth in the region”, he said.

ESR India is currently present across nine cities and 15 locations with a total GFA of 18 mn. sq. ft.
Moneycontrol News
first published: Jul 21, 2021 01:51 pm

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