WS Industries to Invest ₹4,000 Cr in 600-Acre Industrial Park Near Chennai

WS Industries India Ltd is keen to invest an amount of ₹4,000 crore (similar to about $500 million) on a sprawling 600-acre industrial park at Sunguvarchatram, just outside the limits of Chennai city. It would strategically locate the park in proximity to electronics heavyweights like Foxconn and Samsung and would feature logistics warehouses, data centres and industrial housing.

The company has already acquired 400 acres including 250 acres through a SARFAESI auction from the defunct IVRCL, which once planned an industrial township on the same site. WSI is now negotiating with private landowners to secure the remaining 200 acres.

“Our aim is to develop and manage Grade A industrial real estate, data centres, and logistics infrastructure catering to multinational and pan-India companies,” said WSI Chairman Nagarajan Seyyadurai.

WSI plans to partner with global consultants for a detailed project report. The land acquired includes a non-functional nine-hole golf course, which the company intends to revive as a central feature of the industrial zone.

With a 0.5 Floor Space Index (FSI), the site offers the potential for up to 15 million sq ft of developable industrial and logistics space a major draw given its proximity to key industrial corridors.

To fund the project, WSI is raising ₹440 crore in fresh capital via private placement of shares at ₹100 apiece. The funds will go towards land acquisition and working capital, according to sources.

The site is advantageously located near the upcoming Parandur International Airport, Oragadam Industrial Estate, and the Chennai-Bengaluru expressway. The acquired land has already been zoned for multi-use development.

In addition to this initiative, WSI is actively involved in the EPC sector, having delivered infrastructure projects worth ₹650 crore over the past two years. It is also awaiting approvals to launch a 1 million sq. ft IT park on Mount Poonamallee Road.