Hiranandani to invest 1000 crore in industrial park

Chennai: Realty firm Hiranandani group will invest about Rs 1,000 crore to develop 115-acre industrial and logistics park here and is setting up a wind turbine manufacturing unit for Vestas. Hiranandani group firm Green Base will create a wind turbine park and warehousing set-up for Vestas India, the leading wind turbine manufacturing multinational, at Oragadam, Chennai.

The ground-breaking ceremony for the 'built to suit' unit for Vestas was held here. Vestas India is setting up an assembly and warehousing facility, which will be spread over 23 acres at this industrial and logistics park. The development will be spread over half a million sft. "We will invest around Rs 1,000 crore over the next two-three years on the development of this park," Hiranandani group MD Niranjan Hiranandani said. As part of the business diversification, he said the group has ventured into industrial and logistics park segment.