ESR Group invests Rs 276 crore to expand its Oragadam industrial and logistics park in Chennai, adding 27 acres and boosting its development potential to 2.5 million sq ft.
New Delhi, Jun 17 (PTI) ESR Group has acquired an additional 27 acres of land to expand its existing industrial and logistics park at Oragadam in Chennai.
The enlarged area of ESR Oragadam Industrial and Logistics Park now spans 107 acres with a development potential of 2.5 million square feet.
"The additional Rs 276 crore (over USD 33 million) investment signifies ESR's dedication to bolstering Tamil Nadu's industrial landscape," the company said in a statement on Monday.
ESR Oragadam Industrial & Logistics Park is strategically located in the heart of the Oragadam-Sriperumbudur cluster, which has witnessed robust growth in demand for Grade A assets.
This latest expansion builds upon the success of ESR Oragadam's first two phases, which have welcomed many high-quality customers, such as electromechanical solutions provider CUBIC, automotive research and development firm A2Mac1, and speciality labelling company CCL.
ESR India CEO Abhijit Malkani said, "ESR's expansion in Oragadam is a pivotal step in our support for Tamil Nadu's commitment to becoming a major industrial hub. This project transcends Grade A industrial buildings".
By upgrading the supply chain with modern infrastructure, he said the ESR Group is empowering a new era of advanced manufacturing and logistics for customers and communities.
"We are crafting an ecosystem that prioritises innovation and environmental responsibility. Integrating green building practices and sustainable infrastructure into our design enables businesses to operate efficiently while minimising their environmental impact," Malkani said.
ESR Group is Asia-Pacific's leading new economy real asset manager and one of the largest listed real estate investment managers globally.
Its fully integrated fund management and development platform extends across Australia/New Zealand, Japan, South Korea, Greater China, Southeast Asia, and India, including a presence in Europe and the US.
ESR Group focuses on new economy real assets and offers customers modern solutions for logistics, data centres, life sciences, infrastructure, and renewables.
ESR Group is listed on the Stock Exchange of Hong Kong.
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