Avigna to invest INR 500 - 600 crore in Karnataka warehousing project

CIOReviewIndia | Thursday, 16 September 2021, 08:54 IST

Avigna to invest INR 500 - 600 crore in Karnataka warehousing projectAvigna Industrial & Logistics Park said it has launched a 4 million sq. ft warehousing facility in Hoskote, Karnataka, and will invest ₹500 crore- ₹600 crore. Avigna plans to hand over the first million sq. ft at the Hoskote Industrial Park in 2022-23.

The company recently leased out its first 1 million sq. ft space of industrial warehouse at Hosur Park in Tamil Nadu to brands such as Whirlpool, Wakefit and Stellar Value Chain.

“We are delighted to announce that the construction of industrial warehouse has begun after the laying of the foundation stone at Hoskote, Karnataka. Such a development will fill a gap in the demand for modern, state-of-the-art warehousing and logistics facilities in India for which we are already in discussion with multiple clients," said Abhijit Verma, executive director and chief executive officer, Avigna Group.

The project is a part of Avigna’s ₹2,000 crore expansion plan to have a footprint of 10 million sq. ft warehouse space over the next three years.

Besides warehouses in Hosur, Chennai, and Nellore (Andhra Pradesh), Avigna is also looking at establishing its presence in Bhiwandi and Jaipur in the west, Farrukhnagar in the north and Patna, Guwahati and Kolkata in the east, among other locations.

On Thursday, Indospace, Everstone Group’s industrial and logistics real estate development platform, said it has launched a new industrial park in Narasapura, near Bengaluru.

The park is situated on a 64-acre parcel near National Highway 75, Narasapura industrial area, and is well-connected to consumption hubs across central, east, and northeast Bengaluru. It is also strategically placed to offer connectivity to Chennai, Tirupati, and the Hoskote-Malur industrial area.

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