Greenbase Industrial plans fresh investment of ₹800 cr at Oragadam near Chennai

April 11, 2024
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Greenbase Industrial & Logistics Parks, a joint venture between Niranjan Hiranandani-led Hiranandani Group and US-based private equity major Blackstone Group, has chalked out a fresh investment of about ₹800 crore at Oragadam near Chennai to create space for manufacturing companies.

The proposed investment will be made for developing 100 acres contiguous to their existing industrial park which shall create an additional 2 million sq ft of fully built-up industrial space to be leased out to various industries. This is expected to generate more job opportunities.

“We have already leased out the entire space created in the first phase and this significant achievement has opened new opportunities for the company to expand the footprint in the Chennai market with an enhanced investment. We offer cutting edge advantage with a fully developed integrated socio-civic ecosystem and modern infrastructure, which has been a major driver to reach our targets earlier than projected,” Hemant Prabhu, Chief Operating Officer, Greenbase Industrial & Logistics Parks, told businessline.

Greenbase has already developed about 2.2 million sq ft of space on a 136-acre area at Oragadam. It has made an investment of about ₹1,200 crore in developing the space, which has successfully been leased out to various industries.

“We started our operations with wind turbine company Vestas as our first and anchor client in 2020 and a few other companies in the wind power sector also came. However, we have diversified the client base to automotive, electronics, heavy engineering and garments, among others. Some of the names include Jost, Sanmina, Micronics, TDConnex etc, he said

Sri Lanka-based garment maker’s facility inside the Greenbase park employs more women. “About 90 per cent of the staff in the unit will be women,” he added.

New and existing players

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, Zurich-based Gurit, a global component maker for the wind power industry, has set up large operations next to Vestas.

For Gurit, Greenbase Oragadam’s operations are a strategic one as it is the only place globally to house three product units. The operations employ about 450 engineers and the company will expand the operations further going forward, Mitja Schulz, CEO of Gurit Services AG, told businessline.

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