IndoSpace unveils industrial park in Andhra Pradesh

Mumbai: Everstone-backed IndoSpace on Thursday launched three industrial and logistics parks in Gujarat, Andhra Pradesh and Haryana.

With this, the company has added nearly 120 acres of space, which will boost IndoSpace to grow its footprint across significant regions and achieve its long-term goal of 120 million sq. ft of modern logistics infrastructure across the country.

IndoSpace has a portfolio of around 34.5 million sq. ft across developed and under-construction projects comprising 34 industrial and logistics parks in nine cities, the company said.

The three new industrial and logistics parks are located at Becharaji in Gujarat, Anantapur in Andhra Pradesh, and Sohna Taoru in Haryana.

"As a national developer, we strive to provide modern logistics and warehousing facilities across strategic and significant locations.

The launch of these three parks marks IndoSpace's rapid growth in laying down a strong foundation for grade A logistics infrastructures across the country," Everstone Group Vice Chairman – Real Estate, Rajesh Jaggi said.

He further said 2019 was significant for the company as it entered into new markets as well as expanded in the existing ones. "We wish to carry the same momentum in this new year," Jaggi added.

The industrial park in Becharaji is spread over 40 acres and is situated closer to Becharaji-Mandal Special Investment Region.

Becharaji is developing into one of the largest industrial manufacturing hubs for car and two-wheeler manufacturers and is also home to Japanese industrial cluster.

The park in Anantapur offers Grade A industrial and warehousing facilities spread over 30 acres. Spread over 50 acres, the park in Taoru is close to the consumption markets of Gurugram, New Delhi and the rest of north India.

"The region is emerging as a major warehousing cluster in NCR with major well-known companies operating out of this area catering to the markets of Northern (Himachal Pradesh, Punjab, Haryana, Uttar Pradesh) and Western (Rajasthan) regions," the company said.