From ET Realty
BENGALURU: US automaker Ford Motors has inked a deal to build a new 2 million sq ft office for its global shared services business in Chennai entailing a little over Rs 800 crore investment, people directly familiar with the matter said.
Ford, which has a plant in the outskirts of Chennai, acquired 28 acre land parcel at the Electronics Corporation of Tamil Nadu SEZ.
The move is aimed at consolidating its multiple tech offices into one campus, besides accommodating growth plans. Ford will initially build a 1.5 million sq ft office (to house around 20,000 employees) but has the option to add another half a million more in the future.
The just clinched land acquisition was facilitated by the Tamil Nadu government.The move by Ford is the first major activity in the Chennai office space market recovering from the recent devastating floods. TOI could not reach Ford India for immediate comments. Ford employs about 14,000 people in India across its two manufacturing plants in Chennai and Sanand and global business services operations.
In September, the car maker signed a MoU with the state government for expansion plans without disclosing the details. The shared services centre will host operations in areas of IT, product engineering, finance and accounting and data analytics among others. The campus will also have a global engineering and technology centre.
Ford’s move tracks a recent spurt in the city’s office leasing activity. Accenture (500,000 sq ft), TCS (250,000 sq ft), Yes Bank (350,000 sq ft), Astra Zeneca (100,000 sq ft) and IBM (60,000 sq ft) added more capacity. Most deals are in prominent locations like the OMR up till Sholinganallur , Porur and Ambattur markets.
The city has also seen an increased interest from clients like CSC, US bank Wells Fargo and Renault Nissan, which are looking for new additional space. Manufacturing sector in Chennai, mostly includes auto, computer, IT.