Chennai Sees PE Investment Of USD 220 Mn In Warehousing Industry
New Delhi: Chennai has received private equity investment in logistics and warehousing sector to the tune of USD 220 million (Rs 1,540 crore) since December 2018, according to data by ANAROCK Property Consultant.
There are manufacturing activities spread over various parts of the city. Chennai has a good base for exports of various goods which makes it an ideal city for logistics and warehousing industry.
However, there s marked change in the industry from which demand for warehousing has been coming. Prior to 2019, the demand came largely from automobile sector but now the demand is being driven by food processing industries, ecommerce and manufacturing industries.
The completion of Outer Ring Road is supporting the growth of ware housing industry in the city, together with infrastructure up-gradation at Maduravoyal Port.
There is a thriving IT/ITeS sector i the city which is making the warehousing sector tech-enabled which is adding to the attraction of the industry.