ESR, the largest APAC-focused industrial and logistics real estate platform, adds 44 acres to its existing park in Oragadam and looks to invest an additional INR 260 crores for its construction and development.
ESR Oragadam with this acquisition will become an 80-acre park in the heart of Oragadam’s industrial belt.
Oragadam’ which is referred to as ‘Chennai’s growth corridor’, is an existing hub for sectors like automobile, auto-ancillary, renewable energy, research & development centers, third-party logistics, electronics, aerospace, and defense.
Strategically located on Oragadam Walajabad highway, which is now an eight-lane highway, the park proposed to be IGBC Gold Rated will facilitate smoother movement of heavy vehicles and improve connectivity to industrial units in the region. The industrial and logistics park is to be built to the highest specifications and is equipped with best-in-class infrastructure, demonstrating the full scope of ESR’s sustainability initiatives and human-centric designs.
“We are thrilled to expand our operations in Oragadam, which has emerged as a renowned destination for indigenous as well as global companies wanting to expand their operations in India. Infrastructure development backed by state government’s support has boosted industrial activity in this region, and increased demand for Grade A facilities making it a favorable destination for expansion and consolidation.”
Mr. Abhijit Malkani, CEO & Country Head of ESR India
Once operational, the project will create over 500 jobs in the region. This Park will be integrated with the ‘ESR smart mobile app’ to enhance client experiences and ensure digital park management.
Source : Logisticsinsider