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Greenbase Industrial plans Rs 800-cr investment in Chennai

Friday, 12 Apr 2024
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Greenbase Industrial & Logistics Parks has unveiled plans to make a fresh investment of about Rs 800 crore at Oragadam near Chennai, for creating dedicated space for manufacturing companies. This will involve developing 100 acres contiguous to its existing industrial park, which will create an additional two million sq. ft. of fully built-up industrial space for leasing out to various industries, and would generate more job opportunities.

The company has already leased out the entire space created in the first phase, while opening new opportunities to expand the footprint in the Chennai region with an enhanced investment. It boasts of a fully developed integrated socio-civic ecosystem and modern infrastructure.

Greenbase, a joint venture between Niranjan Hiranandani-led Hiranandani Group and US-based private equity major Blackstone Group, has already developed about 2.2 million sq. ft. of space at Oragadam with an outlay of about Rs 1,200 crore. It has diversified the client base to automotive, electronics, heavy engineering and garments, among others, and notable names include Jost, Sanmina, Micronics and TDConnex. 

While Greenbase Oragadam expects to attract new players in the upcoming expansion, its existing customers are also expanding and may need more space in future. While Vestas has large operations at the Greenbase Oragadam facility, Gurit, a global component maker for the wind power industry, has set up large operations next to Vestas. The operations employ about 450 engineers and the company has plans to expand operations further.

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