IndoSpace, India’s leading developer and operator of Grade A industrial and logistics real estate, has announced plans to invest up to ₹4,500 crore in new logistics and warehouse parks in Tamil Nadu over the next three years. This decision underscores the company’s commitment to the state and aligns with the ‘Make in India’ initiative. The planned parks aim to support the burgeoning manufacturing sectors in Tamil Nadu, particularly in the automobile and electronics industries.
This investment is expected to generate over 8,000 new jobs, thereby accelerating economic growth and enhancing the state’s industrial infrastructure. Tamil Nadu has been a preferred destination for global Original Equipment Manufacturers (OEMs), with companies like Hyundai, Nissan, Foxconn, and Pegatron announcing significant expansions in the state. IndoSpace has played a pivotal role in developing an ancillary ecosystem that supports these OEMs, facilitating seamless supply chain operations and fostering rapid industrial growth.
Currently, IndoSpace boasts a portfolio of 15 Grade A parks in Tamil Nadu, encompassing over 8.8 million square feet of completed infrastructure. An additional 2 million square feet are under construction, with 4.6 million square feet planned for future development. These parks, spread across 649 acres, serve 66 unique tenants from various sectors, including automotive, electronics, logistics, and engineering. To date, IndoSpace’s total equity commitment to the state stands at $380 million, with facilities offering a potential chargeable area of 15.4 million square feet.
IndoSpace’s industrial and logistics parks have supported Tamil Nadu’s ‘Make in India’ and ‘Make in Tamil Nadu’ initiatives through customizable, ready-to-use Plug-n-Play manufacturing solutions. These facilities enable businesses to establish operations swiftly, reducing time to market and enhancing manufacturing efficiency. Rajesh Jaggi, Vice Chairman of Real Estate at The Everstone Group, stated, “Our ongoing investments, including a recently signed MoU with the Tamil Nadu Government, demonstrate our strong belief in the state’s potential as a global manufacturing powerhouse.”
