Greenbase Industrial & Logistics Park announced on Friday that it has leased 200,000 square feet of industrial land to Jost India in the Chennai community. Global company Jost India manufactures parts for commercial vehicles and agricultural equipment. Greenbase Industrial & Logistics Park is a joint venture of Niranjan Hiranandani Group and Blackstone. Greenbase said in a statement that it had “signed a lease for his 200,000-square-foot property built for industrial space in Jost India,” a 10-year lease has been signed.
He added that he will invest more than Rs 300 crore to develop industrial and logistics parks in major Indian cities. An existing land bank of approximately 500 acres spread across four sites has been allocated for the development of a 15 million square foot industrial and logistics park. The group is actively seeking new properties across the country to further expand its footprint over the next five years and achieve its business plan of approximately 20 million square feet.
The plant is scheduled to be delivered and commissioned by the end of 2022 and will create jobs for around 200 employees. The Company is developing a 3 million square foot industrial estate within a 400 acre mixed-use integrated community at Hiranandani Park in Oragadam, South West Chennai.
“With the signing of this deal, the total portfolio offered at Greenbase Chennai will bring his 1.5 million square feet,” said Niranjan Hiranandani, founder of Hiranandani Group and chairman of Greenbase Industrial & Logistics Park.
With several companies currently operating in Green Base Park, Chennai, the company has successfully created approximately 4,000 direct and indirect jobs. Chennai’s Oragadam is an emerging commercial center best suited for a hub-and-spoke model, attracting the right mix of industrial and warehousing companies to set up facilities in Detroit, South Asia. Greenbase Park aims to make Oragadam a new center for the renewable energy industry to set up industrial and logistics facilities.
Companies such as Vestas, Gurit and Hydraspecma have begun full-scale operations at his Greenbase Parks in Oragadam. Greenbase Chief Operating Officer Hemant Prabhu said.
- Jost India receives a 2 lakh square foot space on lease from Chennai’s Greenbase Industrial & Logistics Park
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