Latest News | Panattoni India to Invest Rs 210 Cr to Build Industrial & Logistics Park in Tamil Nadu
Get latest articles and stories on Latest News at LatestLY. Panattoni India will invest about Rs 210 crore to develop a 25-acre industrial and logistics park at Hosur in Tamil Nadu as part of its expansion plan.
New Delhi, May 28 (PTI) Panattoni India will invest about Rs 210 crore to develop a 25-acre industrial and logistics park at Hosur in Tamil Nadu as part of its expansion plan.
This will be the second project for Panattoni in India. It is already developing a project in the Delhi-NCR market.
Panattoni India Development Pvt Ltd is a part of the Panattoni Group, one of the largest industrial real estate developers in the world.
"Our foray into the Hosur market underscores Panattoni's commitment to strengthening our presence in Tier-1 cities and high-potential warehousing corridors," said Sandeep Chanda, Managing Director, India, Panattoni.
He said the total leasable area in this upcoming project will be 5.5 lakh sq ft.
"This will be a plug-and-play-like facility. The total project cost to develop this park will be around Rs 210 crore," he told PTI in an interview.
The construction work will start in the next few months, and completion is expected in the second quarter of 2026.
Asked about the source of funding, Chanda said the company has roped in an investor for the development of this project. It will also take debt from financial institutions.
"India continues to be a priority geography in our global strategy. The launch of Panattoni Park, Hosur I, reflects our commitment to building a future-ready, pan-India industrial and logistics platform. Our long-term investment plans will continue to support India's expanding consumption and manufacturing base," said Robert Dobrzycki, CEO and co-owner of Panattoni Europe, UK, Middle East & India.
The upcoming project -- Panattoni Park, Hosur I -- will cater to a diverse mix of occupiers, from e-commerce and 3PL players to FMCG and manufacturing companies, offering scalable, high-performance infrastructure built to Grade A specifications.
Panattoni launched its first Indian development, Panattoni Park NH71 in Delhi NCR, in July 2024, with a 360,000 sq. ft. facility currently under construction.
On average, Panattoni invests around EUR 8 billion a year globally.
The commencement of the Indian operations in 2022 marks Panattoni's entry into Asia. Panattoni has delivered 22.3 million square meters in Europe and 56.3 million square meters globally, with an additional 3.1 million square meters under construction in Europe.
(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)