Embassy Industrial Parks inks Rs 1,910 Cr MoU with Haryana Govt

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Embassy Industrial Parks a joint venture between Embassy Group, India’s leading property developer and Warburg Pincus signed an MoU with the Government of Haryana at the Happening Haryana Global Investors Summit 2016, for the development of 3 industrial parks around Gurgaon with a projected investment of Rs 1,910 crores and an employment potential of 4,000 people. The projects are intended to support the booming E-commerce as well as the retail and FMCG companies to consolidate in a post GST scenario.

Anshul Singhal, Chief Executive Officer, Embassy Industrial Parks, said, “We are happy to see the proactive and professional approach of the Haryana government to help private companies like Embassy Industrial Parks, grow operations in the state of Haryana. Embassy Industrial Parks is confident of achieving its goals in the state with the support of the government. With this support, we promise to host world class infrastructure that will help both multinational and domestic companies’ set-up factory operations in the state.”

The proposed warehousing project will span the development of integrated Industrial and Logistics Parks with support facilities and also target industrial light manufacturing clients to set up build to suit manufacturing facility/ready built factories in these parks.

The project will be developed on the outskirts of Gurgaon, on NH-8 or within 10 – 15 kilometers from NH-8. The Government of Haryana will help Embassy Industrial Parks acquire this land and get approvals for the projects, apart from providing incentives to ensure their sustainability.

Though the warehousing sector has been largely unorganized and fragmented, the demand for modern warehouse infrastructure has seen a surge in recent times. The rapid growth of retail, manufacturing and related industry segments coupled with an influx of investment will only push this sector to new heights.

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