ESR India Announces Its Plan To Develop A 36 Acres Industrial & Logistics Park In Oragadam, Chennai
Mumbai, 6th August 2020: ESR, the largest APAC focused logistics real estate platform, announced its plan to build a state-of-the-art industrial & logistics park in the heart of Chennai’s Oragadam industrial belt. Located on SH-48, close to Oragadam junction, the park would be connected by air, road, rail and ports.
Strategically located amongst the upcoming industrial and logistical belt on the State Highway connecting Oragadam to Walajabad in Tamil Nadu, this 36-acre park is proposed to be IGBC Gold Rated. The industrial and logistics park will be built to the highest specifications and equipped with best-in-class infrastructure, demonstrating the full scope of ESR's sustainability initiatives and human centric designs. With this investment, ESR expands its India footprint to 14 locations.
With the shift in manufacturing centres closer to demand centres, the advent of e-mobility, increase in demand for foundry, innovation, Industry 4.0, the state has a diversified industrial profile in the manufacturing and auto sector.
In the view of this development, Mr. Abhijit Malkani and Mr. Jai Mirpuri, Country Heads of ESR India stated, “Due to its strategic location and connectivity to the world through ports, business environment, infrastructure and strong workforce, ESR Oragadam will be well-positioned to cater to the needs of the expanding industries across Automobile, Auto-ancillary, R&D Centres, 3PL's, E-commerce, Electronics, Energy, Aerospace and Defence. This investment is in synergy with ESR’s goal to build a significant portfolio of modern industrial and logistics infrastructure across the country.”
According to a recent survey, Tamil Nadu emerged as the country’s top investment destination in the first quarter of 2020. The southern State accounted for 18.63% of the ₹97,859 crores of investments envisaged to execute 1,241 projects in the country. The diverse economic ecosystem makes Tamil Nadu a strong contender to attract investments globally.
The momentous increase in the number of Grade-A industrial parks shows that Chennai has become the nodal point for supply chain & logistics in South India. This park will be integrated with the ‘ESR smart mobile app’ to enhance client experiences and ensure digital park management. ESR India parks are IGBC (Indian Green Building Council) Gold rated, with energy and water efficient designs to reduce environmental impact and operating costs for clients.
ESR is the largest APAC focused logistics real estate platform by gross floor area (GFA) and by value of the assets owned directly and by the funds and investment vehicles it manages. Co-founded by its senior management team and Warburg Pincus, ESR and the funds and investment vehicles it manages are backed by some of the world’s preeminent investors including APG, SK Holdings, JD.com, CPP Investments, OMERS, PGGM and Ping An. The ESR platform spans across the People’s Republic of China, Japan, South
Korea, Singapore, Australia, and India. As of 31 December 2019, the fair value of the properties directly held by ESR and the assets under management with respect to the funds and investment vehicles managed by ESR recorded approximately US$22.1 billion, and GFA of properties completed and under development as well as GFA to be built on land held for future development comprised over 17.2 million sqm in total. ESR has been listed on the Main Board of The Stock Exchange of Hong Kong Limited since 1 November 2019.