Developer of Grade A industrial real estate and logistics parks IndoSpace on June 23 announced the launch of two parks, Vallam II and Oragadam III in Tamil Nadu, with a combined area of 118 acres, the company said.
The company did not disclose the amount invested.
Both parks will cater to companies from the automotive and electronics sectors. Original equipment manufacturers like Yamaha, Hyundai, Royal Enfield, Nissan, Daimler and Foxconn are amongst the most prominent industrial entities in these regions, it said.
The parks will boost IndoSpace’s footprint across strategically significant regions and are a step towards its long-term goal of creating 120 million square feet of modern logistics infrastructure across India.
IndoSpace Industrial and Logistics Park Vallam II is located on State Highway 57 and is spread across 50 acres within the State Industries Promotion Corporation of Tamil Nadu Limited (SIPCOT) area. The fully-compliant Grade A park allows businesses to cater to Chennai’s western and southern belts via the Outer Ring Road. The park offers smooth connectivity to Vallam, Oragadam, Irungattukottai and Sriperumbudur.
IndoSpace Industrial and Logistics Park Oragadam III, spread across 68 acres, is located off State Highway 48. The park offers superior connectivity to Chennai city through the Outer Ring Road. It is also close to the established industrial and automobile hub of Oragadam and the Sriperumbudur micro-market.
“As a pan-India developer, we strive to provide modern logistics and warehousing facilities across strategic and significant locations. The launch of these two parks embodies IndoSpace’s rapid strides towards building a strong foundation for Grade A logistics infrastructure across the country. We focus on providing world-class, compliant and environment-friendly facilities that are designed and built in line with the latest global trends and technology. Last year was significant for us – we entered new markets and expanded in the ones we are in already. We wish to maintain the same momentum this year,” said Rajesh Jaggi, Vice Chairman – Real Estate, Everstone Group.
IndoSpace has a portfolio of 43 million square feet across developed and under-construction projects spanning 41 industrial and logistics parks in nine cities.