WSI to Invest ₹4,000 Crore in Industrial Park Near Parandur

WS Industries India Ltd is planning to invest about $500 million (around ₹4,000 crore) to develop a large industrial park spread over 600 acres in Sunguvarchatram, near Chennai. The location is close to the electronics hub and the proposed Parandur Airport.

The company has already acquired 400 acres of land, including 250 acres bought through a bank auction from IVRCL, which had earlier planned an industrial township there. WS Industries now plans to buy an additional 200 acres from private landowners.

The new industrial park will include:

• Logistics and warehouse facilities

• Data centres

• Industrial housing

WSI Chairman, Nagarajan Seyyadurai, said the goal is to build and manage high-quality industrial spaces for multinational companies and major Indian businesses operating in the area.

The company will work with international consultants to create a detailed project plan. The land also includes a closed nine-hole golf course, which WSI plans to restore as a centerpiece of the park.

With a Floor Space Index (FSI) of 0.5, the company can develop up to 15 million sq. ft. of industrial and warehouse space. Due to its prime location near the electronics manufacturing zone, there’s strong demand for such developed land.

To support the project, WS Industries is raising around ₹440 crore by issuing new shares at ₹100 each to promoters, institutions, and private investors. This funding will be used for land purchase and working capital.

The upcoming industrial park is strategically located near the proposed Parandur International Airport, Oragadam industrial estate, and the Chennai-Bengaluru expressway. The land is already approved for mixed-use development.

Apart from this project, WS Industries is also developing a 1 million sq. ft. IT park on Mount Poonamallee Road, which is currently awaiting approvals. Over the last two years, the company has completed infrastructure projects worth ₹650 crore.