ESR India, the largest Asia Pacific focused industrial, and logistics real estate platform has inked a Memorandum of Understanding (MoU) with the Government of Tamil Nadu for a potential investment of Rs 550 crores.
The MOU is signed for two industrial parks in Kancheepuram and Krishnagiri districts of the state over the next five years. Once fully operational, the two projects have the potential to create over 4,400 jobs in the facility, that shall boost the overall socio-economic growth in the region.
“The policy and regulatory reforms unveiled in recent times has accentuated the entry of international institutional players and has set new benchmarks for industrial developments in the country. The MoU will see ESR invest Rs 550 crores to develop industrial parks in Tamil Nadu, offering 1,800 direct & 2,600 indirect job opportunities in the facility,” said Abhijit Malkani, CEO and Country Head, ESR India said,
“Our goals are aligned with the vision of the Tamil Nadu Government, to create avenues to increase business and trade inclusion opportunities and employment towards garnering better economic growth in the region”, he said.
ESR India is currently present across 9 cities and 15 locations with a total GFA of 18 Mn. Sq. ft. These state-of-the-art facilities will be developed upholding the best practices for ESG and sustainability.