Greenbase Industrial & Logistics Park on Friday said it has given on lease 2 lakh square feet industrial space to Jost India in its township at Chennai.
Global firm Jost India manufactures components for commercial vehicles and agricultural equipment.
Greenbase Industrial & Logistics Park is a joint venture between Niranjan Hiranandani Group and Blackstone. Greenbase said in a statement it has entered into a ''lease deal of 2 lakh square feet built to suit industrial space for Jost India.'' The lease deal is signed for a tenure of 10 years.
The facility is planned to be delivered and be operational by the end of 2022, generating an employment for nearly 200 people.
The company is developing an industrial park, comprising 3 million square feet, at its 400 acres of mixed-used integrated township Hiranandani Parks, Oragadam in South-West Chennai.
Niranjan Hiranandani, founder Hiranandani Group and Chairman of Greenbase Industrial & Logistics Park, said: “With the signing of this deal, our total delivered portfolio stands at 1.5 million square feet at Greenbase Chennai.''
The Hiranandani Group in JV with Blackstone stays committed to investing over Rs 3,000 crore to develop industrial and logistics parks across key cities in India, he added.
The existing land bank of close to 500 acres spread across four locations is dedicated for 15 million square feet of industrial and logistics parks development.
The group is actively scouting for new land parcels across the country to further expand its footprint to achieve a business plan of close to 20 million square feet in the next five years.
With several companies now operational at Greenbase Park, Chennai, the company has been successfully able to generate direct and indirect employment of approximately 4,000 individuals.
Oragadam, Chennai is an emerging economic centre best suited for a hub-and-spoke model, attracting the right mix of industrial and warehousing companies to set up their facilities in the Detroit of South Asia.
Greenbase Park aims to designate Oragadam as the new epicentre for the renewable energy industries to set up their industrial and logistics facilities.
Companies like Vestas, Gurit, and Hydraspecma have commenced their fully scaled operations from Greenbase Parks, Oragadam.
Hemant Prabhu, Chief Operating Officer at Greenbase said, “ This partnership will certainly build the deep synergies between the two organisations of a great repute, enabling an opportunity for the holistic development of the infrastructure ecosystem.”
(With inputs from PTI)
