Provident Industrial has successfully sold the third phase of its Gateway Logistics Park in El Paso, Texas, to EQT Exeter. The 345,394 square foot Building III features modern industrial space and strategic location, attracting companies focused on cross-border logistics and distribution. This sale reflects the growing demand for industrial real estate in El Paso driven by nearshoring and reshoring trends.
The Indian Cabinet has approved the development of 12 new industrial smart cities across 10 states, with an investment of ₹ 28,602 crore. These cities are part of the National Industrial Corridor Development Programme (NIDCP) and are expected to create millions of jobs and attract significant investment.
Tamil Nadu Chief Minister M K Stalin delivered a powerful Independence Day speech highlighting the state’s progress in job creation, industrial development, and celebrating the contributions of its citizens. He also commemorated the legacy of his father, M Karunanidhi, a prominent figure in the state’s history.
Shanghai Electric, a leading player in the energy and industrial sectors, has outlined a comprehensive plan to accelerate its technological advancements and solidify its market leadership. The company is focusing on key areas including research and development, talent development, and strategic partnerships to achieve its goals.
Mukesh Ambani, the chairperson of India’s most valuable company Reliance Industries, is planning to establish a global economic hub in Navi Mumbai. For this purpose, Reliance Industries has leased a massive 3,750 acres of land for 43 years in Navi Mumbai for a whopping Rs 13,400 crore. The land will be used to develop an integrated industrial area with global partnerships, similar to Reliance’s existing industrial complexes in Jamnagar, Hazira, and Dahej. Reliance Industries began the sub-lease of the land in 2019 with an initial payment of Rs 2,180 crore.
The British Columbia government has announced a $25 million investment in the expansion of a milk production plant in Abbotsford, B.C. The expansion is expected to increase local milk production by 50% to 1.4 billion liters annually and create up to 100 new jobs. The investment aims to boost the supply of locally sourced food products and reduce the reliance on imports from Eastern Canada.
