India, Nov. 20 -- Casagrand said on November 20 that it has entered into a strategic investment deal with Blackstone under which the US-headquartered alternative investment firm had agreed to invest Rs.700 crore to develop a 4.2 million sq ft of industrial and warehousing infrastructure near Chennai, according to the company statement.

The company aims to develop two large-scale industrial and logistics parks spanning 154 acres in Sriperumbudur, Chennai, the statement said.

"The venture will see an investment around Rs.700 crores from Blackstone to develop 4.2 million sq ft of modern, Grade A industrial and warehousing infrastructure. Built to accommodate e-commerce, 3PL and a broad spectrum of manufacturing occupiers, the developments ...