Chennai :

Greenbase Industrial & Logistics Parks will invest Rs 800 crore ($106 million) in Oragadam, near Chennai, to develop a dedicated space for manufacturing companies. The expansion will cover 100 acres adjacent to its existing industrial complex, adding two million square feet of fully constructed industrial space for lease to various sectors. The project is expected to create additional job opportunities.

The company has successfully leased all available space in the first phase of its latest project, paving the way for expansion in the Chennai region. The project, accompanied by increased investment, offers a fully integrated and developed social and civil ecosystem and modern infrastructure. This success opens new growth opportunities in the region.

Greenbase, a joint venture between India's Hiranandani Group and US private equity firm Blackstone Group, has developed 2.2 million sq ft of space in Oragadam with an investment of Rs 1,200 crore. The company has diversified its customer base into sectors such as automotive, electronics, heavy engineering and apparel. Notable clients include Jost, Sanmina, Miconics and TDConnex.

Greenbase Oragadam sees an influx of new business as part of the upcoming expansion, while its existing clients, including Vestas, are also expected to need more space. Gurit, a global manufacturer of wind energy components, has recently established large-scale operations alongside Vestas, employing approximately 450 engineers. The company revealed plans for further expansion in the near future.