Logistics real estate platform, ESR announced it will invest Rs 332 crore to develop a 36 acre state-of-the-art industrial and logistics park in the heart of Oragadam, a suburb located south-west of Chennai. With this devlopment, ESR has expanded its India footprint to 14 locations.
Strategically positioned amongst the upcoming industrial and logistical belt on the State Highway-48 connecting Oragadam to Walajabad in Tamil Nadu and close to Oragadam railway junction, this park is proposed to be Indian Green Building Council (IGBC) Gold Rated.
In view of this development, Abhijit Malkani and Jai Mirpuri, Country Heads of ESR India stated, “Due to its strategic location and connectivity to the world through ports, business environment, infrastructure and strong workforce, ESR Oragadam will be well-positioned to cater to the needs of the expanding industries across automobile, auto-ancillary, R&D centres, 3PLS, e-commerce, electronics, energy, aerospace and defence.”
“This investment is in synergy with ESR’s goal to build a significant portfolio of modern industrial and logistics infrastructure across the country,” they said.
The industrial and logistics park will be built to the highest specifications and equipped with best-in-class infrastructure, demonstrating the full scope of ESR’s sustainability initiatives and human centric designs. It will be integrated with the ‘ESR smart mobile app’ to enhance client experiences and ensure digital park management.
The momentous increase in the number of Grade-A industrial parks shows that Chennai has become the nodal point for supply chain & logistics in South India.
According to a recent survey, Tamil Nadu emerged as the country’s top investment destination in the first quarter of 2020. The southern State accounted for 18.63% of the Rs 97,859 crores of investments envisaged to execute 1,241 projects in the country. The diverse economic ecosystem makes Tamil Nadu a strong contender to attract investments globally.
With the shift in manufacturing centres closer to demand centres, the advent of e-mobility, increase in demand for foundry, innovation, Industry 4.0, the state has a diversified industrial profile in the manufacturing and auto sector.