"Greenbase Industrial to Invest ₹800 Crore in Oragadam, Chennai Region"

Greenbase Industrial & Logistics Parks, a joint venture between the Hiranandani Group led by Niranjan Hiranandani and the US-based private equity giant Blackstone Group, has announced plans for a fresh investment of approximately ₹800 crore in Oragadam near Chennai. The investment aims to create additional space for manufacturing companies in the region.

The proposed investment will be utilized for the development of 100 acres of land adjacent to their existing industrial park, resulting in an additional 2 million square feet of fully built-up industrial space. This expansion is expected to provide a significant boost to job opportunities in the area.

Hemant Prabhu, Chief Operating Officer of Greenbase Industrial & Logistics Parks, expressed confidence in the project's success, citing the full occupancy of the space created during the first phase as a driving factor for further expansion. He emphasized the company's commitment to providing a cutting-edge advantage with integrated socio-civic ecosystems and modern infrastructure, which have played pivotal roles in achieving targets ahead of schedule.

Currently, Greenbase has developed approximately 2.2 million square feet of space on a 136-acre site in Oragadam, representing an investment of about ₹1,200 crore. The space has been successfully leased out to various industries, ranging from wind power to automotive, electronics, heavy engineering, and garments.

Prabhu highlighted the diverse client base of Greenbase, which includes prominent names such as Vestas, Jost, Sanmina, Micronics, and TDConnex. He also mentioned the employment opportunities provided by Sri Lanka-based garment maker within the park, with a workforce comprising predominantly women.

Looking ahead, Greenbase Oragadam anticipates attracting new players with its expansion, while also accommodating the growth plans of existing clients. Notably, companies like Vestas and Gurit have established significant operations within the park, with plans for further expansion in the future. For Gurit, in particular, the Oragadam facility serves as a strategic location housing multiple product units, with plans for continued growth and expansion in the coming years.

HBL