IndoSpace's Rs 2000 Crore MoU to generate 15,000 jobs in industrial sector
IndoSpace, India's leading industrial real estate developer, signs a Rs 2000 crore Memorandum of Understanding with the Tamil Nadu Government, demonstrating a robust commitment to the state's industrial growth. The agreement, announced at the Tamil Nadu Global Investors Meet 2024, aims to generate 15,000 jobs. With an existing 600-acre land bank and 14 Grade A industrial parks in the region, IndoSpace's investment contributes to the state's economic development. The MoU outlines plans for an additional 5 million sq. ft. of land, reinforcing IndoSpace's pivotal role in Tamil Nadu's industrial landscape....
Revving up Maharashtra's Automotive Hub: Hyundai's mega investment in Talegaon and Mercedes-Benz's Pune expansion
Hyundai Motor India (HMI) is injecting Rs 7,000 crore into a new manufacturing plant in Talegaon, Pune, signalling a strategic shift beyond Tamil Nadu. This move, Hyundai's first outside Tamil Nadu, aligns with Maharashtra's emerging status as an automotive hub. Mercedes-Benz is doubling its Pune production capacity, underscoring its commitment to India's luxury car market. Maharashtra's automotive landscape gains momentum with major investments in Talegaon and Pune. Mahindra & Mahindra's recent Rs 10,000 crore investment in a Pune-based electric vehicle (EV) manufacturing plant positions the city at the forefront of India's EV shift. Pune's robust supply chain, government support, skilled workforce, and tech focus ensure substantial growth in its automotive sector, shaping India's future mobility....
Hiranandani Group's Yotta Data Centre launches in GIFT city
Yotta Data Services has launched the Yotta G1 Data Centre in GIFT City, Gandhinagar, marking its entry into Gujarat. The state-of-the-art facility, the fifth in Yotta's network, is set within the International Financial Services Center zone, offering over 350 high-density racks and scalable power. G1 uniquely serves as a 'data embassy,' allowing international firms to store data under their home country's laws. This launch follows Yotta's introduction of Shakti and Yntraa Cloud services, strengthening its position as a leading digital transformation and cloud service provider in India....
LogiMAT India 2024: Shaping the future of logistics and supply chain in India
LogiMAT India 2024, scheduled for February 28 to March 1, 2024, at India Expo Mart in Delhi NCR, is poised to be a transformative event in India's logistics sector. Aligned with the National Logistics Policy and Gati Shakti initiatives, the exhibition will feature industry leaders showcasing cutting-edge technologies and innovations. With the logistics sector contributing significantly to India's GDP and employment, LogiMAT India 2024 is a catalyst for industry transformation, exploring concepts like AGV, AMR, and autonomous vehicles. Supported by key government initiatives, the event provides networking opportunities and recognizes excellence in logistics through the LogiVerse Innovation and Excellence Awards....
CapitaLand invests over USD 750 Million in Chennai's logistics expansion
CapitaLand Investment Limited (CLI) plans to spend more than USD 750 million in Chennai's real estate over the next five years, with a concentration on business parks, data centers, and logistics. The expansion follows three MoUs inked at the Tamil Nadu Global Investors Meet 2024. CLI's wide portfolio, which includes the International Tech Park Chennai, demonstrates its commitment to India's progress. CLI's strategic efforts, such as the introduction of CapitaLand India Growth Fund 2 and plans for new data centers, demonstrate the company's confidence in Chennai's market potential as well as its overall commitment to innovative and sustainable real estate development....
From Warehousing Revolution to ESG Priorities: Decoding India’s industrial sector triumphs in 2023
In 2023, India's industrial and logistics sector experienced significant growth. Absorption increased by 6.7% to 49.4 million sq. ft., predominantly in Tier I cities. Major developers responded with a supply of 62 million sq. ft., focusing on Grade A spaces. The 3PL sector led with 39% absorption, while e-commerce expanded into Tier II & III cities. The manufacturing sector saw notable growth, contributing 27% to absorption. The increased demand for Grade A spaces hinted at the evolving preferences towards ESG standards. Rental values are expected to marginally rise by 2-6% in 2024, marking a transformative year for the industry....
Skechers unveils a state-of-the-art 600,000 square foot warehouse in Palava, Mumbai
Skechers, the American footwear giant recently inaugurated a massive 600,000 square feet national distribution centre in Mumbai, India, at the Lodha Industrial and Logistics Park in Kalyan. Part of a broader project, this facility is designed to optimize supply chain operations, capable of dispatching 60,000 units daily. The warehouse boasts Free Movement (FM1) super flat flooring, a first in western India, enhancing shipment movement. Meeting IGBC Platinum pre-certification, it aligns with sustainability standards. Skechers executives noted India's status as one of their fastest-growing markets, expressing plans to localize production. The move reinforces Skechers' commitment to growth and sustainability, setting industry benchmarks in India....
Welspun One unveils Rs 700 crore industrial & logistics facilities project within JNPA-SEZ
Welspun One, a major in industrial real estate, is set to invest Rs 700 crore in building a 1.2 million sq. ft. industrial and logistics hub within the Jawaharlal Nehru Port Authority (JNPA) Special Economic Zone (SEZ) near Mumbai. This strategic partnership with JNPA aims to create futuristic infrastructure leveraging their respective strengths. The project is financed through debt and equity. Welspun One is near JNPA Port, which handles 35% share of India's container cargo. The initiative reflects Welspun One's commitment to transforming India's trade landscape and socio-economic development, marking the second deployment from its Rs 2,000-crore Fund 2....
WSB Real Estate Partners to invest Rs. 1200 crore into Indian Warehousing Sector
WSB Real Estate Partners, an alternative asset manager, plans to invest Rs 1,200 Crore in the Indian warehousing sector over the next two years, covering nearly 4 million sq ft. Engaging developers in major cities, the company is eyeing projects in Mumbai, Delhi-NCR, Chennai, and Bengaluru. Collaborating with Panattoni, WSB has invested Rs 110 crore in its first 16-acre warehousing park in Delhi-NCR, targeting completion by March 2025. With 3-4 deals in the pipeline (Rs 500-700 crore), WSB aims to solidify its real estate presence. With total assets currently over Rs 2,200 crore, WSB sees promising prospects in warehousing and logistics, citing strong infrastructure and favourable government policies....
NHAI and DC MultiModal Park collaborate for Rs 673 Crore Multi-Modal Logistics Park in Nagpur
The National Highways Authority of India (NHAI) has formalized an agreement with DC Multi Modal Park (Nagpur) to develop a Rs. 673 crore Multi-Modal Logistics Park (MMLP) in Nagpur, covering 150 acres. Aligned with the PM Gati Shakti National Master Plan, this project is a crucial component of the Bharatmala Project, aiming to enhance India's freight logistics sector. The strategic location, proximity to transportation hubs, and phased development approach underscore the significance of the Nagpur MMLP in fostering efficient multimodal connectivity and contributing to the broader vision of logistics infrastructure development in the country....
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