GreenBase, subsidiary of Hiranandani Group signs MoU with Tamil Nadu Government
As per news reports, GreenBase has signed MoU with government of Tamil Nadu. It has a joint venture with global private equity firm Blackstone Group and is a pan-India platform to build industrial, logistics and warehousing assets. At the event, Greenbase’s COO Hemant Prabhu Keluskar and S Raghuraman (business head, south) were present.
Furthermore, it is reported that the MoU with will see GreenBase invest Rs 750 crore to develop an Industrial and logistics park at Vadakkuppattu, Oragadam, and lead to multiple direct & indirect job opportunities. This sector plays a pivotal role in trade across geographies and the drafting of a National Logistics Policy will boost trade growth, generate employment as well as improve global competitiveness.
The industrial & logistics park at Oragadam plans development of 2.8 million sq-ft of built-up area for companies seeking to set up manufacturing and logistics units. The TN government will extend support in the form of necessary infrastructural support, regulatory permissions and registrations subject to the applicable laws. In the times of COVID-19, warehousing and logistic sector is emerging as the most important sector due to the e-commerce boom. Many investments and expansion plans are in pipeline to turn the supply chain seamless and robust.