CHENNAI: Shri Kailash Logistics, part of Kochi-based Sree Kailas Group, said here first phase of its Rs 320-crore logistics park set up at Oragadam near here is ready to go on stream.
The company has completed construction of 3.25 lakh square feet of warehouses and 25,000 square feet of commercial complex, with technical support of a Singapore-based consultant, Shri Kailash Logistics Managing Director S Giridhar said in a statement.
The company is expanding the facility by adding another 7 lakh square feet of modern warehouses in the park with a total investment of Rs 320 crore for both first and second phases.
Formal inauguration of the first phase of the park is scheduled for the first week of May, he said, adding the entire logistics park is expected to be commissioned in two years.
Noting that 2.5 lakh square foot was leased out to major multi-national automobile companies, he said the company has received an offer from another MNC to take the entire park on a long-term lease.
The company is currently in talks with certain strategic investors and private equity investors to fund the project, he said, adding, they were also planning to set up similar logistics parks in Coimbatore and Bangalore.
On their future plans, Giridhar said they were also planning to set up another 50 acre park in North Chennai, close to the Chennai-Kolkata Highway aimed at serving the fast moving consumer goods companies.
The logistics park, he said, would offer spacious roads for 40 feet containers, uninterrupted power supply, IT and communication connectivity, water supply and drainage network for the clients.
Sree Kailas Group, engaged in manufacturing of paper products and paper conversion, transportation and logistics and development of logistics parks, real estate and construction, is expecting to report a total turnover of Rs 400 crore this financial year.