The New Indian Express ·
Hiranandani-backed Greenbase to invest Rs 2,000 crore in Tamil Nadu, develop 5 mn sq ft of land
CHENNAI: Greenbase Industrial and Logistics Pvt Ltd, a Hiranandani Group-backed company, on Thursday announced the acquisition of 215 acres or over 9 million sq ft of land for Rs 2,000 crore in Chennai to develop 5 million sq ft land pool.
Another 4 million sq ft is in the pipeline for acquisition, with an additional investment of Rs 1,500 crore. This will take Greenbase’s cumulative development target to over 9 million sq ft.
N. Sridhar, CEO of Greenbase, said the company is bullish on the long-term outlook for India’s industrial and logistics sector. He said the need for high-quality industrial and logistics infrastructure will grow as manufacturing contributes more to India’s GDP.
