BackMahindra Lifespace to set up industrial park near Ahmedabad
Mahindra Lifespace Developers signs a MoU with Gujarat government to set up the industrial park with an investment of Rs3,000 crore
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Mumbai: Real estate firm Mahindra Lifespace Developers Ltd on Thursday said it has signed a memorandum of understanding (MoU) with the government of Gujarat to set up an industrial park near Ahmedabad with a total investment of Rs3,000 crore.
The 350-acre park is being planned to serve non-polluting industries and has the potential to create around 12,000 jobs, the company said in a statement.
The MoU has been signed through Industrial Cluster Pvt. Ltd (ICPL), a 100% subsidiary of the company, at the ongoing Vibrant Gujarat Summit 2017. The park will be developed under the Gujarat Industrial Policy 2015, it added.
“Mahindra Lifespaces is delighted to make its entry into Gujarat with the establishment of a multi-product industrial park that will offer business infrastructure and attract more manufacturing investment into the state," said Anita Arjundas, managing director, Mahindra Lifespace Developers Ltd.
The company currently operates two industrial townships —Mahindra World City Chennai and Mahindra World City Jaipur. Both these townships span over 4,000 acres and houses around 130 Indian and multinational companies. It is also in the process of developing a 264-acre industrial park in North Chennai in partnership with Japanese conglomerate Sumitomo Corp.
“Strong port infrastructure, a robust base of both large scale industries and MSMEs, and a young and agile workforce all contribute towards creating an enabling ecosystem for manufacturing in Gujarat," said Sangeeta Prasad, chief executive officer, Integrated Cities and Industrial Clusters, Mahindra Lifespace Developers Ltd.
Mahindra Lifespace Developers Ltd, part of $17.8 billion Mahindra Group, is currently developing around 9.60 million sq. ft of residential projects across the country including Mumbai Metropolitan Region, National Capital Region, Hyderabad, Bengaluru and Chennai. It has also entered into the affordable housing segment under the brand ‘Happinest’.
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