CCI Group plans Rs 640 crore investment to develop 2 million sq ft logistics facility
CCI Group plans to invest more than Rs 640 crore to build more than 2 million sq ft warehousing capacity in the second phase of its upcoming logistics hub in Chennai. The fresh investment will increase total outlay by the integrated logistics and supply chain company in the facility to about 900 crore so far with the total capacity expanding to 3 million sq ft.
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The second phase will be developed on 85 acres over the next 15 months at Polivakkam locality in the Tamil Nadu capital. The fourth-party logistics (4PL) company has so far built and fully leased a nearly 1 million sq ft facility spread over 35 acres with investment of Rs 250 crore.
The new investment will be financed through a mix of promoter equity and construction finance. It will be structured into two segments—a standard requirement facility to become operational by middle of this year, and another phase for built-to-suit (BTS) facility for industry-specific needs.
“Polivakkam is a key hub in CCI’s long-term expansion plans. The region is steadily becoming a logistics hotspot due to its proximity to the Sriperumbudur-Oragadam industrial cluster. By establishing this new facility, CCI Group wants to attract industries reliant on high-quality storage facilities and also strengthen the economy in the region,” said Naresh Sharma, managing director, CCI Group.
With Chennai emerging as a
