IndoSpace Revs Up Tamil Nadu's Engine with Rs 2,000 Crore Investment

IndoSpace has formalized a memorandum of understanding (MoU) with the government of Tamil Nadu, signifying its commitment to invest over Rs 2,000 crore in the state. This strategic agreement underscores IndoSpace's dedication to bolstering industrial necessities and fostering economic growth.

The substantial investment from IndoSpace is anticipated to create job opportunities for approximately 15,000 individuals within the state. Furthermore, this initiative has prompted the planning of an additional five million sq. ft. of land development in Tamil Nadu. By delivering state-of-the-art industrial logistics facilities, IndoSpace aims to significantly contribute to the augmentation of the state's industrial infrastructure.

Notably, IndoSpace currently possesses a substantial land bank of approximately 600 acres in the region. With a presence in 14 Grade-A industrial and logistics parks strategically situated around key industrial hubs, the company has successfully developed and leased around 13 million sq. ft., amounting to a total investment of Rs 4,000 crore in the state.

News by Rahul Yelligetti