Blackstone invests in Chennai industrial parks

Blackstone is set to invest ₹700 crore in Casagrand Industrial and Warehousing to build two industrial and logistics parks covering 4.2 million sq ft in Sriperumbudur, Chennai.

Casagrand is a Tamil-Nadu based real estate company primarily involved in developing luxury apartments and independent villas in South India.

What’s brewing: under the partnership, Blackstone is building facilities designed for online shopping companies, logistics providers, and manufacturers. The goal is to bring high-standard, professionally managed industrial spaces to one of India’s busiest industrial regions. 

FYI: once executed, the projects are expected to reach a gross development value of ₹1,500 crore. 

The significance: the Sriperumbudur corridor in Tamil Nadu is a major hub with logistics centres, manufacturing units, and industrial and aerospace parks. Setting up a facility here gives the company access to the region’s supportive ecosystem technical prowess.