Greenbase MoU With Tamil Nadu Govt.

GreenBase, a joint venture with Blackstone Group Inc. is a PAN India platform to build industrial, logistics and warehousing assets. It has recently inked a MoU with the Government of Tamil Nadu at State Secretariat Office, Chennai. The MoU with state government will see GreenBase invest INR 750 crores to develop an Industrial and Logistics Park at Vadakkuppattu, Oragadam yielding to multiple direct & indirect job opportunities for the workforce. The Industrial & Logistics Park at Oragadam - Chennai envisages development of 2.8 million sq. ft. of built up area for companies desirous of setting up manufacturing and logistics units. This will open up the job prospects for various segments that shall help in the overall socio-economic growth in the region. 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. 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 GreenBase Industrial & Logistics Park. These fiscal benefits include capital subsidy, stamp duty refund, training subsidy, electricity tax exemption and other applicable incentives under the policy. These value propositions are on offer at the GreenBase Industrial & Logistics Park as a result of the affiliation with the state government, making it a ‘win-win’ scenario for companies setting up their units within the Park.”