Ocean Lifespaces bags EPC contract to develop 6-lakh sq ft industrial space in Chennai
Ocean Lifespaces India today announced that it has bagged the design and build EPC (Engineering, procurement and construction) contract to complete 6-lakh sq ft of industrial structure for Dubai-based port and logistics Group, DP World in Chennai.
The announcement comes close on the heels of Ocean Lifespaces securing another civil work contract from ZF Rane Automotive India (a joint venture of German-based automotive technology supplier, ZF Group with Rane Group) to develop one-lakh sq ft for its new plant in Trichy.
“With the world limping back to normalcy, and employees coming back to the office, even under the hybrid mode, we are seeing an uptick in the absorption of office space. Moreover, demand for commercial space is also on an upswing,” said SK Peter, Founder & CEO of Ocean Lifespaces India, in a press release.
Peter added, “As the industry is at the cusp of a multi-year growth cycle, bagging the new contract from DP World in Chennai augurs well for our future growth.”
Headquartered in Chennai, Ocean Lifespaces is primarily engaged in the business of providing interior solutions for commercial real estate for the last two-and-half decades. Some of its marquee corporate clients include Ford, Swiss Re, Google, Ola, and Walmart to name a few. The company said it is seeing an upswing in recent times in terms of bagging contracts for both interior solutions and civil works.
“During the April-June quarter of the current fiscal, Ocean Lifespaces was awarded Design & Build EPC contracts for two auditorium projects having a seating capacity of 20,000 (India’s biggest auditorium) and 6,000 seaters respectively, in Chennai,” the company said in a press release.
It also won a ₹600 crore contract from Indian Oil Corporation Ltd (IOCL) to design and build the world’s second-largest lube plant. Till now, Ocean Lifespaces claims to have completed more than 30 million sq ft of interiors for corporates, over 10 million sq ft of civil construction work and developed over 3 million sq ft of real estate properties.