Mahindra Lifespace Developers Limited (MLDL), the real estate and infrastructure development arm of Mahindra Group, will foray into Gujarat by setting up a multi-product industrial park near Ahmedabad.
The company on Thursday announced that it has signed an MoU with the Government of Gujarat, through a 100 per cent subsidiary, to establish a 350-acre, multi-product industrial park near Ahmedabad, estimated at a total investment of Rs 3,000 crore.
The proposed new industrial park marks is being planned to cater to non-polluting industries and is claims to create direct and indirect employment for about 12,000 persons, when fully operational. The proposed multi-product industrial park will be developed under the aegis of Gujarat Industrial Policy 2015.
Anita Arjundas, managing director, Mahindra Lifespace Developers Ltd, said, "Gujarat has over the years emerged as a future-focused and sought after industrial destination with a strong focus on sustainable development and inclusive growth. 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."
Sangeeta Prasad, chief executive officer, Integrated Cities and Industrial Clusters, Mahindra Lifespace Developers, added, "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."
Mahindra Lifespaces has pioneered the development of sustainable, integrated business cities - Mahindra World Cities - in partnership with state governments in India. Based on the philosophy of 'Livelihood, Living and Life', the Mahindra World City (MWC) developments in Chennai and Jaipur span over 4,000 acres and have emerged as business destinations of choice for more than 130 reputed Indian and transnational companies, who have set up operations in these Cities to cater to both Indian and global markets.
As part of its journey towards creating a network of industrial clusters across the country, Mahindra Lifespaces, through a joint venture between its subsidiary Mahindra World City Developers Limited and Sumitomo Corporation of Japan, is also setting up an approximately 263.80-acre industrial park in North Chennai at the NH5 corridor