Gurgaon: Embassy Industrial Parks on Tuesday announced an investment of Rs 1,910 crore in Haryana for the development of three industrial parks.
Embassy Industrial Parks, a joint venture between realty firm Embassy and Warburg Pincus, signed an MoU with Haryana government for the development of three industrial parks around Gurgaon "with a projected investment of Rs 1,910 crore and an employment potential of 4,000 people".
The MoU was signed at the Happening Haryana Global Investors Summit 2016. The Haryana government will help Embassy Industrial Parks acquire this land and get approvals for the projects, apart from providing incentives to ensure their sustainability, the company said in a statement.
The projects are intended to support the booming e-commerce as well as retail and FMCG companies to consolidate in a post GST scenario.
"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," said Anshul Singhal, Chief Executive Officer, Embassy Industrial Parks.
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 in the outskirts of Gurgaon, on NH-8 or within 10-15 kilometers from NH-8. Though the warehousing sector has been largely unorganised and fragmented, the demand for modern warehouse infrastructure has seen a surge in recent times, the company said.
Rapid growth of retail, manufacturing and related industry segments coupled with an influx of investment will only push this sector to new heights, it added.