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Private Sector | Tamil Nadu - India | PID: 203520
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Logistics parks operator IndoSpace looks to bolster its presence in the manufacturing sector by committing to an increased investment plan of up to Rs 4,500 crore in new logistics and warehouse parks in Tamil Nadu. IndoSpace had last year signed an initial pact with the Tamil Nadu government for investing Rs 2,000 crore in this sector in the state.
These parks will support the growing manufacturing sectors like automobile and electronics in the state. This investment is expected to create over 8,000 new employment opportunities, besides accelerating economic growth. Tamil Nadu continues to be a preferred destination for global original equipment manufacturers (OEMs) with companies like Hyundai, Nissan, Foxconn announcing their expansion plan.
With a portfolio comprising 15 Grade-A parks, IndoSpace has developed over 8.8 million sq. ft. of completed infrastructure in the state with an additional two-million sq ft under construction and 4.6 million sq. ft. planned for future development. These parks are spread across 649 acres and serve sectors, including automotive, electronics, logistics, and engineering.
IndoSpace has a presence with 52 logistics parks and 58 million sq. ft. of space under development or already delivered.
| Updated on: 16 - Oct - 2024
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