Cargo Breaking News
IndoSpace announced its plans to increase its investments up to INR 4,500 crore in new logistics and warehouse parks in Tamil Nadu. Following an INR 2000 crores MOU with the Tamil Nadu government last year, this new announcement highlights the firm’s dedication to both the state and the Make in India initiative. These parks will support the growing manufacturing sectors like automobile and electronics in the state. Significantly, this investment is expected to create 8000 + new jobs, accelerating economic growth and enhancing the state’s already credible industrial infrastructure.
Tamil Nadu continues to be a preferred destination for global Original Equipment Manufacturers (OEMs), with companies like Hyundai, Nissan, Foxconn, and Pegatron announcing significant expansions in the state. IndoSpace has helped in developing an ancillary ecosystem that supports these OEMs, facilitating seamless supply chain operations and enabling faster industrial growth. The company’s strategic parks, located across key industrial zones, have provided state-of-the-art infrastructure to industries, contributing significantly to Tamil Nadu’s growing prominence as a global manufacturing hub.
IndoSpace’s presence in Tamil Nadu: With a portfolio comprising 15 Grade A parks, IndoSpace has developed over 8.8 million square feet of completed infrastructure, with an additional 2 million square feet under construction and 4.6 million square feet planned for future development. These parks are spread across 649 acres of land and serve 66 unique tenants from a variety of sectors, including automotive, electronics, logistics, and engineering. IndoSpace’s total equity committed to the state as on date stands at USD 380 million, and the facilities offer a potential chargeable area of 15.4 million square feet, reinforcing IndoSpace’s strong presence in Tamil Nadu’s industrial ecosystem.
