According to a
statement issued by the firm, this investment is projected to generate direct
employment opportunities for 500 individuals and create an additional 2,000
jobs indirectly.
Jitender Yadav, Chairman and Founder at Pragati
Warehousing, said: “This MoU reinforces our commitment towards adding global
standard assets to the Indian logistics and industrial real estate.” “Tamil
Nadu’s strides in electronics and auto manufacturing make it a pivotal hub for
our expansion,” said Maneesh Jain, Chief Investment Officer.
The statement also mentioned that Pragati Warehousing
is actively engaged in an ongoing investment of ?350 crore for the development
of a Grade-A industrial and warehousing park in Sriperumbudur. Spanning over 35
acres of land parcel, this project offers 0.7 million sq. ft. of Grade-A
leasable space and is progressing on schedule for completion within the current
year.