In a groundbreaking move, IndoSpace, India’s premier developer of Grade A industrial real estate, has penned a monumental Memorandum of Understanding (MoU) with the Tamil Nadu Government during the prestigious Tamil Nadu Global Investors Meet 2024. Valued at a staggering INR 2000 crores, this landmark agreement solidifies IndoSpace unwavering commitment to the state’s industrial landscape and economic prosperity.
A Strategic Accord for Growth:
The official announcement unfolded against the backdrop of the Tamil Nadu Global Investors Meet 2024, graced by the presence of Mr. M.K. Stalin, Honourable Chief Minister of Tamil Nadu, and Mr. Piyush Goyal, Union Minister of Commerce and Industry, Government of India. This strategic investment by IndoSpace is poised to catalyze the creation of over 15,000 new jobs, providing a substantial impetus to employment opportunities within the state.
Rajesh Jaggi, Vice Chairman – Real Estate, Everstone Group, expressed the significance of this partnership: “Tamil Nadu continues to be a pivotal destination for us in developing industrial parks. Signing this MoU is significant for us as it reaffirms the government’s trust in our capabilities. We are confident that this partnership will not only contribute to Tamil Nadu’s economic development but also work towards strengthening the overall economy for the nation.”
IndoSpace Established Footprint in Tamil Nadu:
IndoSpace boasts an existing land bank of approximately 600 acres in the region. With a robust presence of 14 Grade A industrial and logistics parks strategically positioned around the main industrial hubs, IndoSpace has successfully developed and leased around 13 million sq. ft., with a total investment of approximately INR 4000 crores in the state. This MoU with the Tamil Nadu Government signifies IndoSpace’s ongoing commitment to meeting industrial requirements and has paved the way for planning an additional 5 million sq. ft. of land in the state.
Catalyst for Economic Development:
The significance of this MoU extends beyond a financial commitment; it represents a collaborative effort to stimulate economic growth and job creation. The infusion of INR 2000 crores into Tamil Nadu’s industrial infrastructure underscores IndoSpace pivotal role as a catalyst for economic development.
Unlocking Opportunities: IndoSpace signs INR 2000 Crore MOU with Tamil Nadu Government: About
IndoSpace, recognized as the largest investor, developer, and operator of Grade A industrial and logistics real estate in India, maintains a national network of 51 logistics parks across 11 cities, encompassing 58 million square feet delivered or under development. With an illustrious track record and India’s most experienced industrial real estate team, IndoSpace remains at the forefront of developing key logistics infrastructure crucial for India’s economic growth.
In summary, IndoSpace INR 2000 Crore MOU with the Tamil Nadu Government marks a significant stride towards fostering economic growth, job creation, and reinforcing its commitment to developing state-of-the-art industrial and logistics infrastructure.