The warehouse to come up over an area measuring 5.70 lakh sq ft at Pillaipakkam in neighbouring Kancheepuram district, would supply the raw materials and inventory to First Solar, a company statement here said.
TVS ILP COO Manikandan Ramachandra said, “This strategic location is intended to reduce time, inventory, and space utilization costs within the First Solar factory…”
“We understand the importance of proximity for manufacturing companies in need of warehouses near their facilities, and our strategic land acquisition adjacent to First Solar’s facility emphasizes our dedication to meeting this need,” he said.
The construction work of the facility is expected to be completed by the first quarter of 2024 and will generate 200 jobs in the region.
First Solar Vice President Sujoy Ghosh said, “We are pleased that TVS ILP has decided to set up this important piece of warehousing infrastructure close to our facility in Chennai.” “We anticipate that the warehouse will play an important role in our effort to optimize inventory and capacity utilization,” Ghosh, also the company’s Country Managing Director, said.
According to the company, the foray into the renewable energy sector is a testament to its versatility and dedication to serving clients from diverse industries.