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Business EconomyPosted at: Oct 14 2020 4:08PM


Green Base inks MoU with TN Govt for setting up logistics park

Chennai, Oct 14 (UNI) GreenBase, a Hiranandani Group subsidiary,
has signed a MoU with the Tamil Nadu for setting up an industrial
and logistics park at Oragadam near here involving an investment
of Rs 750 crore.
Dr Niranjan Hiranandani, Founder and Managing Director, Hiranandani
Group said “the MoU with state government will see GreenBase invest
Rs 750 crore to develop an Industrial and Logistics Park at Vadakkuppattu,
Oragadam yielding to multiple direct and indirect job opportunities for the
workforce.''
He said the park envisages development of 2.8 mn sqft of built up area
for companies wishing to set up manufacturing and logistics units.
This will open up the job prospects for various segments that would help
in the overall socio-economic growth in the region, he said,according to
a company release today.
To crystalize these plans, the TN government will extend support in
the form of necessary infrastructural support, regulatory permissions
and registrations subject to the applicable laws.
It will encourage single window clearance to expedite the approval
process in a seamless and transparent manner which in turn culminates
into the reduced time frame for companies to be market ready and Go
Live hassle-free.
An additional power station has been commissioned within the GreenBase
Industrial park that will substantially reduce utility costs for last mile connectivity
which will be passed on to the companies setting up units in the park.
Also, an uninterrupted power supply will go a long way in reducing dependencies,
capex and operational expenses, he said.
GreenBase COO Hemant Prabhu Keluskar “our goals are aligned with the state
government's vision to foster investment and employment towards garnering better
economic growth in the region.”
He said “Additionally, subject to eligibility, standard incentives as per the Tamil Nadu
Industrial Policy, 2014; will be made available to companies who set up manufacturing
units at the park, which included capital subsidy, stamp duty refund, training subsidy,
electricity tax exemption and other applicable incentives under the policy.''
UNI GV 1605
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Tags: #Green Base inks MoU with TN Govt for setting up logistics park
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