Mahindra Group which, in November last year, announced its foray into industrial clusters has unveiled its first project.
Located at Ponneri in the northern part of Chennai, the Mahindra Industrial Park Chennai Ltd (MIPCL), is a 60:40 joint venture between Mahindra World City Developers Ltd. (MWCDL), a subsidiary of Mahindra Lifespace Developers and Sumitomo Corporation of Japan with plug-and-play infrastructure and environment-friendly features.
Both partners have committed an investment of Rs. 1,000 crore for developing the Chennai project under the brand name ORIGINS. Phase 1 of the project spread over 300 acres is ready for occupation. It was formally inaugurated recently by Kenji Hiramatsu, Ambassador of Japan to India.
“We hope to attract Rs. 3,000-3,500 crore industrial investments and creation of 7,000-8,000 jobs directly. We hope to realise this as soon as possible,” Sangeetha Prasad, Managing Director and CEO, MLDL said here. ORIGINS Chennai is the first industrial cluster in Tamil Nadu which is pre-certified Platinum rating by the Indian Green Building Congress (IGBC) Green Cities, she said.
Two companies have already signed up for space in ORIGINS, Chennai. Yanmar Group, a leading Japanese manufacturer of diesel engines for marine applications has committed to invest Rs. 500 crore over a period of time in the industrial cluster. Another Japanese company Nissei Electric, makers of optical fibre and electrical components, is in the process of finalising its investments. A few other companies are also in discussion with MIPCL.
“We intend to attract medium and large companies in the engineering, automotive, food processing, logistics and aerospace sectors into our cluster,” said Vaibhav Mittal, Business Head, MIPCL. “We see Tamil Nadu as one of the most promising destinations for Japanese investments in India and I believe ORIGINS, Chennai can enhance the State’s attractiveness as an innovation and manufacturing hub,” said Tsutomu Akimoto, Managing Executive Officer and General Manager, Infrastructure Business Unit, Sumitomo Corporation.
The industrial cluster has proximity to Chennai Port, Ennore Port and Kattupalli Port – all within 30-km radius.
Mahindra Lifespace Developers plans to develop industrial clusters under ORIGINS across the country. The company is developing one near Ahmedabad.
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