Brigade Enterprises commits Rs 34 bn investment in Tamil Nadu's Growth
ECONOMY & POLICY

Brigade Enterprises commits Rs 34 bn investment in Tamil Nadu's Growth

On January 8, Brigade Enterprises inked two Memoranda of Understanding (MoUs) with the Tamil Nadu government, committing to invest more than Rs 34 billion in the state over the next 3-4 years.

These agreements were formalised during the Tamil Nadu Global Investors Meet (GIM) 2024, with Chief Minister MK Stalin in attendance.

The first MoU, in collaboration with the Chennai Metropolitan Development Authority (CMDA), outlines Brigade Group's ambitious expansion plans in Chennai. It includes the construction of two high-rise residential buildings in the IT hub of Sholinganallur, with an investment exceeding Rs 20 billion.

The second MoU was established with the Electronics Corporation of Tamil Nadu (ELCOT), Information Technology and Digital Services Department, Government of Tamil Nadu. This agreement entails an investment of approximately Rs 14 billion for the development of high-rise commercial and residential projects in various micro-markets across Chennai, including Mount Road.

The slated completion for these projects is within the next 3-4 years.

Pradyumna Krishnakumar, Executive Director of Brigade Enterprises, emphasised the strategic significance of Chennai in their business focus, spanning residential, commercial, and hospitality sectors. He noted the city's promising growth in these sectors, especially in the past year, and highlighted Chennai's emergence as a hotspot for IT/ITES and healthcare industries, driving high demand for commercial spaces.

The signing of the MoU with ELCOT involved Pradyumna Krishnakumar and Dr S Aneesh Sekhar, IAS MD, ELCOT. Additionally, the agreement with CMDA was formalised between Hrishikesh Nair, Chief Operating Officer of Brigade Enterprises Ltd, and Anshul Mishra, IAS Member Secretary of Chennai Metropolitan Development Authority, Housing and Urban Development Department, Government of Tamil Nadu.

Redefine the future of urban mobility! Join us at the Metro Rail Conference 2025 to explore groundbreaking ideas and insights. 👉 Register today!

On January 8, Brigade Enterprises inked two Memoranda of Understanding (MoUs) with the Tamil Nadu government, committing to invest more than Rs 34 billion in the state over the next 3-4 years. These agreements were formalised during the Tamil Nadu Global Investors Meet (GIM) 2024, with Chief Minister MK Stalin in attendance. The first MoU, in collaboration with the Chennai Metropolitan Development Authority (CMDA), outlines Brigade Group's ambitious expansion plans in Chennai. It includes the construction of two high-rise residential buildings in the IT hub of Sholinganallur, with an investment exceeding Rs 20 billion. The second MoU was established with the Electronics Corporation of Tamil Nadu (ELCOT), Information Technology and Digital Services Department, Government of Tamil Nadu. This agreement entails an investment of approximately Rs 14 billion for the development of high-rise commercial and residential projects in various micro-markets across Chennai, including Mount Road. The slated completion for these projects is within the next 3-4 years. Pradyumna Krishnakumar, Executive Director of Brigade Enterprises, emphasised the strategic significance of Chennai in their business focus, spanning residential, commercial, and hospitality sectors. He noted the city's promising growth in these sectors, especially in the past year, and highlighted Chennai's emergence as a hotspot for IT/ITES and healthcare industries, driving high demand for commercial spaces. The signing of the MoU with ELCOT involved Pradyumna Krishnakumar and Dr S Aneesh Sekhar, IAS MD, ELCOT. Additionally, the agreement with CMDA was formalised between Hrishikesh Nair, Chief Operating Officer of Brigade Enterprises Ltd, and Anshul Mishra, IAS Member Secretary of Chennai Metropolitan Development Authority, Housing and Urban Development Department, Government of Tamil Nadu.

Next Story
Infrastructure Energy

Orb Energy Achieves Rs 3 Bn Milestone in Solar Financing Success

Orb Energy, a vertically integrated solar energy solutions provider, has achieved a significant milestone by surpassing Rs 3 billion in financing disbursements through its in-house finance facility that requires no collateral or down payment. This accomplishment underscores its dedication to supporting small and medium enterprises (SMEs) and micro, small, and medium enterprises (MSMEs) in India in transitioning to cost-effective solar energy solutions. The company has installed approximately 350 MW of solar photovoltaic systems nationwide, with a strong foothold in southern and western India...

Next Story
Infrastructure Energy

90% Defaulters Yet to Settle Rs 3.17 Bn Power Dues in Noida

Out of a total of 1.31 lakh defaulters in Noida, only 13,500 consumers availed of the one-time settlement (OTS) scheme during its first phase. The Uttar Pradesh Power Corporation (UPPCL) launched the scheme in three phases, from December 15, 2024, to January 31, 2025. These consumers cleared dues amounting to Rs 300.40 million out of a total Rs 3.47 billion owed. Officials emphasized that stricter enforcement of the scheme would be implemented in the coming phases. During a recent weekend meeting with the technical team of the power department, the Noida zone's chief engineer instructed that..

Next Story
Infrastructure Energy

NER Invites Bids for 10 MW Rooftop Solar Projects in Uttar Pradesh

The Varanasi division (electrical) of Northeastern Railway has recently issued four tenders for a total of 10.4 MW on-grid rooftop solar systems to be installed at various buildings in Gorakhpur, Uttar Pradesh. The tenders include different project capacities, with submission deadlines set between January 31 and February 3, 2025. Bidders are required to submit earnest money deposits (EMDs) ranging from Rs 0.89 million to Rs 1.2 million depending on the tender, with the expected project costs varying between Rs 148 million and Rs 174.08 million. The selected contractors will be tasked with sup..

Hi There!

"Now get regular updates from CW Magazine on WhatsApp!

Join the CW WhatsApp channel for the latest news, industry events, expert insights, and project updates from the construction and infrastructure industry.

Click the link below to join"

+91 81086 03000