IndoSpace looking to invest Rs 4,500 cr logistics and warehouse parks in TN

Logistics parks operator IndoSpace on Tuesday said it is looking to bolster its presence in the manufacturing sector with an increased investment plan of up to Rs 4,500 crore in new logistics and warehouse parks in Tamil Nadu.

A leading developer of Grade A industrial and logistics real estate, IndoSpace had last year signed an initial pact with the Tamil Nadu government for investing Rs 2,000 crore in the state's logistics industry.

Tamil Nadu continues to be a preferred destination for global original equipment manufacturers (OEMs) with companies like Hyundai, Nissan, Foxconn, and Pegatron announcing significant expansions in the state, IndoSpace said, adding that the company has helped develop an ancillary ecosystem that supports these OEMs.

"IndoSpace announces plans to increase its investments up to Rs 4,500 crore in new logistics and warehouse parks in Tamil Nadu. These parks will support the growing manufacturing sectors like automobile and electronics in the state," the ...