Avigna Industrial & Logistics Park to invest Rs 600 cr on warehousing project in Karnataka

Avigna Industrial & Logistics Park will invest Rs 500-600 crore to develop a warehousing project in Karnataka.

The company said in a statement that it has entered one of the key industrial locations at Hoskote, in Karnataka, with a 4 million square feet Grade A warehousing facility.

''With an investment between Rs 500-600 crore, this project by far is going to be the largest asset in the area. The industrial park will have a Grade A warehousing capacity, to cater to the most technologically advanced requirement for the supply chain management,'' Avigna said.

The company plans to complete the first 1 million square feet in 2022-23.

Avigna recently leased out their first 1 million square feet space of industrial warehouse at Hosur Park in Tamil Nadu to companies such as Whirlpool, Wakefit and Stellar Value Chain.

''The construction of an 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, the Executive Director and CEO at Avigna Group.

The project is a part of Avigna's Rs 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 (Tamil Nadu), Chennai (Tamil Nadu) and Nellore (Andhra Pradesh), Avigna is also looking at a pan India expansion establishing its presence in the Western (Bhiwandi, Jaipur), Northern (Farrukhnagar, Haryana) and Eastern India (Patna, Guwahati, Kolkata).

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)