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3:11 pm - Thursday November 24, 5031

Mahindra Lifespaces launches industrial clusters

Mumbai, Mahindra Lifespace Developers Ltd (MLDL), the real estate and infrastructure development arm of the Mahindra Group, a 19 billion US dollars group, has announced the launch of its new brand of industrial clusters located across India which will attract investment and will address the growing need for sustainable industrial infrastructure to provide impetus to India’s rising prowess as a global manufacturing and investment destination.

The first project will come up in North Chennai with a Phase-1 development of 264 acres, a joint venture between Mahindra World City Developers Limited and Sumitomo Corporation of Japan.

The second project is located near Ahmedabad, with a Phase-1 development of 268 acres, and it will be developed along with International Finance Corporation (IFC) as a strategic partner.

“Together, these industrial clusters are expected to create direct employment for around 20,000 persons and will target companies across the engineering, medical equipment, food processing and logistics sectors, amongst others,” said Arun Nanda, chairman, Mahindra Lifespace Developers Ltd, at the launch event here on Tuesday.

Posted in: Business

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