Panattoni, Adani to set up logistics parks in Kochi

The state government is taking major steps for explosive growth, and a slew of major companies, including US-based Panattoni and Adani Group, are identifying Kochi and its suburbs for establishing logistics parks.

The companies have identified Kalamassery, Edayar, and Parakadavu in Angamaly for new projects that are expected to generate several hundred new jobs.
Industries Minister P. Rajeeve announced that California-based Panattoni, a major player in Europe’s industrial real estate sector, has chosen a 100-acre plot at the Edayar Industrial Estate. He mentioned, "Talks are in the final stage, and work is expected to begin soon."
Another significant project in Kochi comes from the Adani Group, which plans to invest ₹500 crore to develop a park on a 70-acre site near HMT in Kalamassery, according to the minister.
In addition, the e-commerce platform Flipkart's facility in Kalamassery is nearing completion and is expected to become operational by the end of the year. This facility will cover an area of 550,000 square feet.

The operations of other companies in the Kalamassery Park will also be managed by Adani. "As discussions are still in the initial stage, details cannot be divulged," the minister stated. A third park will be established at Parakadavu in Angamaly, with a facility of 250,000 square feet being developed by a Bengaluru-based company.

Rajeeve emphasized that Kochi is well-positioned in terms of infrastructure and connectivity. "The proximity to Cochin Port and easy access to Vizhinjam Port are significant attractions," he said.
According to the minister, these developments will create hundreds of new jobs. "It is projected that the Flipkart facility will generate around 1,000 direct jobs and 3,000 indirect jobs. The entry of more companies will lead to additional job creation," Rajeeve added.

The setting up of logistics parks can be attributed to the growing warehousing market in Kochi, Knight Frank India, an international property consultancy, highlighted in a 2023 report.

Transaction volumes in the city’s warehousing market shot up by 239% to 0.9 mn sqft in 2022-23 from 0.3 mn sqft the previous year. The jump dramatically reduced market vacancies and queries for built-to-suit facilities that went up in FY23, it said.

Three locations identified

California-based Panattoni has zeroed in on a 100-acre plot at Edayar Industrial Estate.

The Adani Group has decided to invest I500 crore to develop a park on a 70-acre space near HMT in Kalamassery.

A third park will come up at Parakadavu, in Angamaly. The 2.5 lakh sqft facility is being set up by a Bengaluru-based company.