Avigna to invest ₹837 cr to develop industrial parks in Tamil Nadu1 min read . Updated: 24 Jul 2021, 01:04 PM IST
- Avigna will soon start operation of its 10 million sq. ft Food Terminal Market near Chennai which was delayed due to the pandemic
BENGALURU: Avigna Industrial and Logistics Park, part of Chennai-based Avigna Group , on Saturday said it has partnered a memorandum of understanding with the Tamil Nadu government to invest ₹837 crore to develop industrial parks across the state.
“Tamil Nadu Government has always been known for their forward thinking and welcoming nature towards the business community, encouraging to build a strong ecosystem. We are pleased to announce this collaboration with the state government and look forward to not only develop industrial parks but also bring economic development to the people of the state by generating employment opportunities," said Abhijit Verma, executive director and CEO of Avigna Group. “Avigna is soon going to start operation of their first-of-kind Food Terminal Market near Chennai which was delayed due to the pandemic. This 10ft million sq. ft project is going to revolutionize the way farmers trade their produce."
Avigna Industrial and Logistics Park currently has warehouses in Hosur (Tamil Nadu), Hoskote (Karnataka) and in Nellore district of Andhra Pradesh. It is expanding to western, eastern and northern parts of the country as well.
Earlier this week, logistics platform ESR India also signed an agreement with the Tamil Nadu government to invest ₹550 crore to launch two industrial parks in Kancheepuram and Krishnagiri districts of the state over the next five years.
The policy and regulatory reforms unveiled in recent times has accentuated the entry of international institutional players.
Abhijit Malkani, CEO and country head, ESR India said, “The government of Tamil Nadu has been very supportive in encouraging industrial developments in the state by creating a favourable business climate for industrial players. The MoU will see ESR invest ₹550 crore to develop industrial parks in Tamil Nadu, offering 1,800 direct and 2,600 indirect job opportunities in the facility."
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