Mumbai-based Hiranandani Group on Monday said it would invest around Rs 8,500 crore to develop industrial and data centre parks in Bengal. The group has “entered into an MoU in the state of Bengal to set up logistics and hyperscale data center parks in the region”, a company statement said.
The Hiranandinis have signed the MoU to acquire an 100-acre land at Uttarpara from Hindustan Motors for an integrated logistics and hyperscale data center park by group companies GreenBase and Yotta.
“The combined investment by the group and its customers is estimated to cross Rs 10,000 crore,” the statement said. The spokesperson said the investment by the group would be around Rs 8,500 crore.
GreenBase will develop 3 million square feet of industrial and warehousing space, while Yotta,
Hiranandani’s data centre division, will build six data centres bringing in 250MW of data centre capacity over the next several years.
Darshan Hiranandani, chief executive officer of the group said,“Bengal is the gateway to the East. It is an ideal hub for logistics and industrial development with excellent road, rail and riverine connectivity.”
“Simultaneously, the data centre business will benefit from the digitisation revolution, the upcoming Silicon Valley at New Town at Rajarhat and excellent fibre connectivity on land and the new submarine cable coming up at Tajpur.”
He said the data centre park would not only serve the customers of the state but also the entire eastern region, including neighbouring countries.
“The first facility of the Industrial and Logistics Park will be ready by June 2022 and the First Data Centre building will be ready by 2023,” Hiranandani said. Yotta last year inaugurated a data centre in Navi Mumbai. It has announced data centres in Greater Noida and Chennai.
Blackstone venture
Greenbase is a joint venture between Hiranandani Group and global private equity firm Blackstone. It is developing industrial and logistics parks across the Mumbai MMR region, Pune, Nashik, Chennai and Bangalore with a plan to deliver 15 million sq ft of space in the next five years, having an investment outlay of $500 million.
As India aims to be a $5 trillion economy by 2025, the logistic sector has an important role to play in connecting producers with consumers. Greenbase Industrial & Logistics Park will not just help manufacturing and warehousing units build last mile connectivity, it will also give a huge boost to development of the logistics sector and create employment opportunities for the region.
“This logistics park will be its well-designed infrastructure to support best in class security and facilitate optimisation of logistics and turnaround time by enabling Artificial Intelligence (AI) in customer processes, which is the new norm post the COVID pandemic,” the release added
