Hiranandani Group promoted GreenBase signs Warehousing deal with Vestas India
GreenBase, a fully owned subsidiary of India’s leading real estate conglomerate, Hiranandani Group, will create a Wind Turbine Park and Warehousing set-up for Vestas India, the leading wind turbine manufacturing multinational, at Oragadam, Chennai. The development will be spread over half a million sq. ft.
The ground breaking ceremony for the ‘built to suit’ set-up took place on 12 September 2019 at the Industrial and Logistics Park, located within Hiranandani Parks, Oragadam, Chennai.
The newly established vertical ‘GreenBase’, the brain-child of Dr. Niranjan Hiranandani, the leading Indian Real Estate developer, will provide Industrial and Logistics Parks which will be more customer-centric and build optimisation and efficiency for the end user.
At Oragadam, Chennai; GreenBase is creating and facilitating an Industrial and Logistics Park of global standards. Given the Hiranandani Group’s track record in terms of its rich legacy and strength in developing mega, mixed-use integrated townships along with development of core infrastructure, the new development in the Logistics sector by GreenBase will dove-tail perfectly into the Group’s activities.
Vestas India is setting up an assembly and warehousing facility, which will be spread over 23 acres at the Industrial and Logistics Park. This underscores the growing economic development at Oragadam, Chennai; in keeping with the trends witnessed in recent times. This project by Vestas will result in creation of new jobs as also business opportunities for allied and ancillary industrial units, and will give a big fillip to development of the industrial and manufacturing sector in Oragadam, said Dr. Niranjan Hiranandani, co-founder and MD, Hiranandani Group.
“The Indian Government has also granted infrastructure status to the logistic industry; making it an even more positive situation. These are favorable reasons, which provide an impetus to diversify and foray into the industrial and logistics sector,” he added.
The Group has allocated 115 acres for the Industrial and Logistics Park out of 430 acres of the mixed used integrated township, Hiranandani Parks in Oragadam, Chennai. The acreage is dry land, and is suitable for industrial and logistics usage. It offers strategic advantages, including provision of STP, power substation, security cabin, boundary wall etc. Infrastructure and security for the industrial parks has been well planned and executed.
For end-users, the required core infrastructure in form of required water and uninterrupted power are available at the Industrial and Logistics Park. The development also opens up potential for attracting further investment through Vestas vendors within the Hiranandani Industrial & Logistics Park.
“Hiranandani Group’s intrinsic strength in infrastructure development and township development gives Green Base natural advantage over competition, to build and deliver world-class Industrial and Logistics Parks. Apart from our land bank measuring over 500 acres, we are in the process of acquiring new land banks, either directly or through partnerships /JVs across Pan-India for the Green Base platform,” said Mr. N. Shridhar, Group Director & CEO – Infrastructure (Industrial & Logistics).
“Our on-going projects as also ‘planning in progress’ are located across Pune, Oragadam in Chennai, Nashik, Bhiwandi, Durgapur, Kolkata and Bengaluru. We are targeting close to 12 million sq. ft. over the next 5 to 7 years. This portfolio is a good yield asset class, which most probably will be available for retail participation through a REIT/InvIT platform,” he added.
The operating model of Industrial and Logistics Parks by GreenBase include Built-to-suit industrial facilities, Cold storage, Built to Suit Warehouses for end customers as well for large 3PL players.
For businesses that opt for ‘plug and play’ operations, and need warehousing and logistics solutions, GreenBase will offer larger space options It will also play the role of a ‘partner’, assisting the customer with an ‘end-to-end solution’, which would include land acquisition, master planning, Optimising Design as also Build to Suit and a Project Management consultant.