Blackstone Group-backed Horizon Industrial Parks has leased over 4.1 lakh sq ft built-to-suit manufacturing facilities to automotive majors including Germany’s BENTELER Automotive and Lumax-DK Jain Group company Lumax Automotives in its park at Chakan in Pune.
BENTELER Automotive, which is one of the world’s leading companies in the fields of automotive technology, steel and tube production and engineering, has picked up a 1.5 lakh sq ft plug-and-play facility.
Lumax, part of the automotive lighting industry, has also picked up 2.6 lakh sq ft in the same industrial park. BENTELER and Lumax have leased the manufacturing facility for nine and five years, respectively and the agreements include a clause to renew the term further.
“Manufacturing companies coming into India are looking at globally benchmarked plug and play factory solutions. We are keen to offer them bespoke facilities that enable them a rapid start and focus on their core business. Our ideologies on creating a green future are similar, as are our efforts to reduce carbon emissions,” said Rahul Pandit, CEO, Horizon Industrial Parks.
For over seven decades, Lumax has operated from their own facility, and this is the first ever leased facility for the company.
“The shifting of equipment to the new location from our existing plant was done in less than 90 days…With this new location, BENTELER is set to become one of the largest rear axle manufacturers in the country,” Mukund Gangane, MD, Benteler Automotive India.
For Lumax, the newly leased facility will serve as a manufacturing center for a range of automobile lighting systems and solutions for a variety of applications.
“Traditionally, Lumax operated out of standalone facilities, but the facilities witnessed at the Horizon Industrial Park prompted us to move within. They bring global technical know-how and provide a one-stop-solution for our industrial real estate needs,” said Dhanesh Kumar Jain, Chairman, Lumax-DK Jain Group.
Horizon Industrial Parks is a logistics platform in India, owned and managed by Blackstone Real Estate funds. The current portfolio comprises 19 industrial and logistics parks spread across more than 1,050 acres and with a development potential of 26 million sq ft, which are located in eight key markets in India.
The second phase of Horizon’s industrial park at Chakan is spread over 50 acres that was acquired by the Blackstone Group from Embassy Group and consolidated under Horizon Industrial Parks.
Chakan is known as the top automobile and manufacturing center of India and over the last 20 years has evolved into a major automobile hub over the years. It hosts automobile production plants for the Mercedes Benz, Volkswagen Group, Daimler-Benz, Mahindra & Mahindra, Jaguar Land Rover, Bajaj Auto, General Electric, Hyundai, etc.
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