Chennai : Casagrand Industrial & Warehousing specialises in world-class industrial space and warehousing both dedicated and multi-user in strategic locations has entered into a strategic investment deal with Blackstone, one of the world’s largest alternative investment firms to develop two large-scale industrial and logistics parks across 154 acres in Sriperumbudur, Chennai.
The venture will see an investment around INR 700 crores from Blackstone to develop 4.2 million Sq.ft of modern, Grade A industrial and warehousing Infrastructure. Built to accommodate e-commerce, 3PL and a broad spectrum of manufacturing occupiers, the developments aim to introduce a new tier of institutional-grade logistics & Industrial assets to one of India’s most dynamic industrial corridors. The projects are expected to reach a gross development value of INR 1500 crores upon completion.
Casagrand Industrial & Warehousing has already delivered 6 million sq ft and is executing a 15 million sq ft pipeline. The state’s industrial growth primarily driven by electronics, automotive and export-oriented manufacturing has accelerated the need for high-specification logistics & Industrial infrastructure.
Commenting on the partnership, Mr. Arun Mn, Founder, Chairman and Managing Director, Casagrand Group said, “Our partnership with Blackstone marks a pivotal step in our journey to redefine the industrial and logistics landscape in Tamil Nadu. We are not just developing industrial parks; we are creating future-ready ecosystems that enable global manufacturers to operate with scale, speed and world-class efficiency. With Blackstone’s global expertise and our deep regional understanding, we are confident of setting a new benchmark for industrial infrastructure in the country”.
Construction on both parks will begin shortly, with phased development planned to meet rising industrial demand in the Sriperumbudur corridor. Part of the projects is already pre-leased to an Indian Auto major for developing an auto-spare parts consolidation facility and is also further expected to attract a mix of global and domestic occupants. Riding on the strength of its group in-house EPC capability which consists of 2200 engineers, the company aims to complete the entire project within a timeframe of 24-30 months. Together, Blackstone and Casagrand Industrial and Warehousing aim to deliver high-quality assets that support India’s expanding manufacturing ambition.
