RPP Infra Projects Limited on Tuesday, March 26, announced that it has approved the acquisition of approximately 120 acres of land near the proposed new Chennai Airport. The estimated cost of the acquisition stands at ₹75 crore, with the land registration process currently underway and expected to be completed by April 2025.
According to the company’s exchange filing under Regulation 30 of SEBI LODR Regulations, the land is strategically located near prominent international industrial hubs that include firms like Samsung and Hyundai. This makes the acquisition a high-potential asset for development.
The company is evaluating various commercial use cases for the land, including logistics parks, warehousing, and data centres. RPP Infra noted that this move aligns with its long-term strategic growth objectives.
The agreement has been signed with individual landowners and is being executed on an arm’s length basis. The deal does not impact the company’s management or control and does not involve any related party from the promoter group.
Further updates on the development of the land will be shared in due course, the company said.
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