APAC centred logistics and real estate platform ESR India, has expanded its existing park in Oragadam, Chennai, by 44 acres and plans to invest Rs 260 crore in construction and development, according to a press release from the company.
ESR Oragadam Industrial and Logistics Park will expand to 80 acres and be IGBC Gold Rated as a result of this acquisition. The project has the potential to create over 500 jobs in the region once it is fully operational. The company said that the ESR smart mobile app will be integrated with this park. Abhijit Malkani, CEO and country head of ESR India said that infrastructure development, aided by state government support, has increased demand for Grade A facilities in this region, making it a desirable location for expansion and consolidation. Tamil Nadu emerged as the country's top investment destination in the first quarter of 2020, according to a recent survey. The southern state accounted for 18.63% of the Rs 97,859 crore of investments envisaged to execute 1,241 projects in the country. ESR Oragadam Industrial and Logistics Park is well-connected by air, road, rail, and ports and is located on state highway 48, on the Oragadam-Walajabad road. Oragadam is a hub for automobile, auto-ancillary, renewable energy, electronics, aerospace, and defence businesses, and is known as Chennai's growth corridor. It also houses third-party logistics companies and research and development centres. Image Source
