During the Tamil Nadu Global Investors Meet, IndoSpace, the Indian industrial real estate developer, and the Tamil Nadu Government forged a significant Memorandum of Understanding (MoU) amounting to Rs. 2000 crore. This partnership, had been launched at an event graced by Union Minister Piyush Goyal and Chief Minister M.K. Stalin, underscores IndoSpace’s vision to the state’s industrial progress.
Established in 2007, IndoSpace has been working into India’s premier investor, developer, and manager of industrial and logistics real estate. The three core principles of IndoSpace are delivering exceptional quality services, prioritizing sustainability, and upholding stringent governance standards. These pillars synergize to redefine the industry landscape with innovation, cutting-edge solutions, and the highest standards of operational governance. IndoSpace is one of the preferred partners for more than 125 multinational corporations (MNCs) and industry frontrunners.
Anticipated to generate over 15,000 new job opportunities, the MoU between IndoSpace and Tamil Nadu Government, is set to reshape Tamil Nadu’s industrial infrastructure, fostering economic development and contributing to the national economy at large.
Rajesh Jaggi, Vice Chairman – Real Estate, Everstone Group, expressed pride in playing a pivotal role in the development of the state’s industrial parks. He emphasized the significance of the MoU, highlighting its role in reinforcing the government’s confidence in IndoSpace’s capabilities.
As one of the leading industrial real estate developer with an existing land bank of approximately 600 acres in the region, IndoSpace manages 14 Grade A industrial and logistics parks strategically positioned across Tamil Nadu, having already invested around Rs 4000 crore in the state.
The MoU with the Tamil Nadu Government aligns seamlessly with the organization’s goals to fulfilling industrial needs, paving the way for plans to develop an additional 5 million square feet of land in the state. This strategic move aims not only to boost Tamil Nadu’s economic landscape but also to contribute significantly to the nation’s industrial growth.
The IndoSpace-Tamil Nadu Government partnership contributes in the quest for economic development and employment generation. The comprehensive agreement encompasses various facets, including infrastructural development, job creation, and a commitment to fostering economic growth in the state.
The partnership comes at a crucial juncture, where Tamil Nadu is positioning itself as an attractive destination for global investors. The state’s strategic location, coupled with a proactive government, makes it an ideal choice for companies seeking to establish a strong industrial presence.
The investment infusion of Rs. 2000 crore is expected to catalyze Tamil Nadu’s industrial landscape. The commitment from IndoSpace signifies the company’s belief in the state’s potential as a key contributor to India’s economic growth.
With plans for an additional 5 million square feet of land, IndoSpace is set to play an important ole in shaping Tamil Nadu’s industrial future. The focus on creating Grade A industrial and logistics parks reflects the vision of the brand to providing world-class infrastructure to businesses, further solidifying Tamil Nadu’s position on the global industrial map.