IndoSpace plans to invest Rs 4,500 Cr in Tamil Nadu over 3 years

By Staff Report October 9, 2024 12:27 pm IST

IndoSpace plans to invest INR 4,500 crore in new logistics and warehouse parks in Tamil Nadu, aiming to support the region’s expanding manufacturing industries, including automotive and electronics.

IndoSpace, developer, and operator of Grade A industrial and logistics real estate plans to increase its investments up to INR 4,500 crore in new logistics and warehouse parks in Tamil Nadu. Following a Memorandum of Understanding (MOU) worth INR 2000 crores signed with the Tamil Nadu government last year, these parks aim to support the expanding manufacturing industries in the region, including sectors like automotive and electronics.

The investment is projected to generate over 8,000 new jobs, stimulating economic growth and further strengthening Tamil Nadu’s robust industrial infrastructure. The state continues to be a favoured destination for global Original Equipment Manufacturers (OEMs), with major companies such as Hyundai, Nissan, Foxconn, Jabil, Eaton and Pegatron making significant investments in the region. IndoSpace will support the ecosystem for these OEMs provide efficient supply chain operations and drive rapid industrial growth. Its strategically located parks across key industrial hubs have offered cutting-edge infrastructure, greatly contributing to Tamil Nadu’s rise as a global manufacturing centre.

IndoSpace’s presence in Tamil Nadu is noteworthy, with a portfolio that includes 15 Grade A parks spanning over 8.8 million square feet of completed infrastructure. Additionally, 2 million square feet are currently under construction, with plans for another 4.6 million square feet of development. These parks spread across 649 acres, serve 66 distinct tenants from various sectors, including automotive, electronics, logistics, and engineering. IndoSpace has committed a total equity of USD 380 million in Tamil Nadu to date, offering a potential chargeable area of 15.4 million square feet, underscoring its significant contribution to the state’s industrial landscape.