GreenBase Logistics Park inks deal with Jost India for two lakh sq ft industrial lease

Chennai: Greenbase Industrial & Logistics Park, a Niranjan Hiranandani Group and Blackstone JV, on Friday announced the lease deal of two lakh sq ft built to suit industrial space at Oragadam near Chennai for Jost India, a leading manufacturer of components for commercial vehicles and agricultural equipment.

The lease deal is signed for a tenure of 10 years at the self-sustainable mixed used integrated township Hiranandani Parks, Oragadam, off south-west Chennai spread across 400 acres. The facility is planned to be delivered and operational by the end of 2022 generating employment for nearly 200 people, a statement from Greenbase said.

Niranjan Hiranandani, founder, Hiranandani Group and chairman – Greenbase Industrial & Logistics Park said “With the signing of this deal, our total delivered portfolio stands at 1.5mn sq ft at Greenbase Chennai, a milestone accomplished in the short span of two years despite the unprecedented Covid crisis.” Direct and indirect employment for around 4,000 people has been generated as several companies are now operational at Greenbase Park, Chennai, he added.

"We strive to work more closely with the Tamil Nadu government to additionally identify prospective locations to set up more such industrial parks," he said. The Hiranandani Group Blackstone JV stays committed to invest over Rs 3,000 crore to develop industrial and logistics parks across key cities in India, he added.