Logistics parks developer IndoSpace on Wednesday announced the launch of two parks in Tamil Nadu to cater to automotive and electronic sectors, among others.
With an area of 118 acres, the two parks- Vallam II and Oragadam III- will provide smooth access to industrial hubs and micro-markets in the state and boost IndoSpace’s footprint across strategically significant regions, the company said in a release.
The company has a long-term goal of creating 120 million square feet of modern logistics infrastructure across the country and the setting of the two parks is a step in that direction, it said.
The Everstone Group, GLP, and Realterm – promoted IndoSpace has a portfolio of 43 million square feet across developed and under-construction projects spanning 41 industrial and logistics parks in nine cities.
The two industrial and logistics parks will cater to OEMs (original equipment manufacturer) such as Yamaha, Hyundai, Royal Enfield, Nissan, Daimler, and Foxconn, which are amongst the most prominent industrial entities in these regions, the company said.
“As a pan-India developer, we strive to provide modern logistics and warehousing facilities across strategic and significant locations. The launch of these two parks embodies IndoSpace’s rapid strides towards building a strong foundation for Grade A logistics infrastructure across the country,” said Rajesh Jaggi, Vice Chairman – Real Estate, Everstone Group.
Last year was significant for IndoSpace as it entered new markets and expanded in the existing ones, Jaggi said, adding, “We wish to maintain the same momentum this year.”
Located on State Highway 57 and spread across 50 acres within the State Industries Promotion Corporation of Tamil Nadu Limited (SIPCOT) area, the fully-compliant Vallam II Grade A park allows businesses to cater to Chennai’s western and southern belts via the Outer Ring Road.
It offers smooth connectivity to Vallam, Oragadam, Irungattukottai, and Sriperumbudur areas of the state, IndoSpace said.
The 68-acres Oragadam III park, located off State Highway 48 and close to the established industrial and automobile hub of Oragadam and the Sriperumbudur micro-market, offers superior connectivity to Chennai city through the Outer Ring Road, the company said.