The initial two industrial clusters will see an investment of around Rs 600 crore
Mahindra Lifespaces, the real estate arm of Mahindra & Mahindra, will start developing industrial clusters under a new brand name – Origins by Mahindra World City.
The first two industrial clusters will come up at Ahmedabad and Chennai; later, the brand will have a pan-India presence. The initial two industrial clusters will see an investment of around Rs 600 crore.
The companies in the cluster will be from various sectors including engineering, medical equipment, food processing and logistics sectors.
Sangeeta Prasad, CEO (integrated cities and industrial clusters), Mahindra Lifespaces, said, "We are expecting around Rs 3,000-4,000 crore worth of investment from domestic as well as international companies who will be setting up their facilities at these clusters."
Mahindra Lifespaces chairman Arun Nanda said, "India is expected to emerge as the top-five manufacturing countries in the world. This development will address the growing need for sustainable industrial infrastructure to provide impetus to India's rising prowess as a global manufacturing and investment destination."
Planned to be of 'international standards', the industrial clusters would be spread in the range of anywhere between 250 and 600 acre along or next to the high-growth corridors.
As per the plans, one of the first industrial clusters will be in North Chennai; the first phase will be of 264 acre in size and jointly developed with Sumitomo Corporation of Japan. All clearances for this project have been received and ground work is likely to begin soon.
The other project will be on the outskirts of Ahmedabad, with the first phase of 268 acre. The Ahmedabad project will have International Finance Corporation as a strategic partner.
"These industrial clusters will enable faster go-to-market for both domestic and global companies by way of clear land titles, plug-and-play infrastructure, in-house expertise in operations and security, and a range of business support services such as warehousing, logistics, banks, food courts, etc," said Anita Arjundas, MD, Mahindra Lifespaces.
It is estimated that these two industrial clusters will provide direct employment to around 20,000 people.
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