Japanese firm Mitsui & Company will set up an integrated logistics park in Haryana at an investment of Rs 5,000 crore.
CHANDIGARH: Japanese firm Mitsui & Company will set up an integrated logistics park in Haryana at an investment of Rs 5,000 crore.
The Japanese company on Monday signed a memorandum of understanding with Haryana State Industrial & Infrastructure Development Corporation (HSIIDC) and IL&FS Infrastructure Development Corporation for setting up the park in Haryana.
"The project is likely to attract Japanese investment of Rs 5,000 crore and will create employment for about 10,000 persons directly and indirectly in the core and allied activities," HSIIDC Managing Director Rajeev Arora said on Monday.
Additional investment both from domestic as well as outside of around three to five times is expected to come in the supporting activities like industry and manufacturing.
To be spread over 1,500 acres of land, the main components of the project would include transportation, logistic infrastructure, industry and manufacturing support for high-end manufacturing, information and services, utilities like power generation and energy conservation.
Although the location for this project is still not decided, a location study survey would be conducted within 60 days in order to find the suitable site for this project. "During the study, all the aspects of feasibility of the project like contiguity, connectivity, access to water will be considered," he said.
The project is in line with Joint Declaration made by Prime Minister Manmohan Singh with his Japanese counterpart in October this year in furtherance to an overall cooperation on Delhi-Mumbai Industrial Corridor (DMIC).
The project is in line with Joint Declaration made by Prime Minister of Japan and India during the latter's visit to Japan
in October this year in furtherance to an overall cooperation on Delhi-Mumbai Industrial Corridor (DMIC).
"The project has been planned to utilize the opportunities likely to be thrown open by development of DMIC along with alignment of proposed dedicated freight corridor. The park would be useful for high-tech industrial solutions, logistic and
cold chains," he said.
"This project will facilitate Japanese and other foreign investments in Haryana state," Mitsui & Company India, Chairman,
Munetaka Onose said on this occasion.
Haryana Chief Minister Bhupinder Singh Hooda said, "The coming of this project to the state proves that Haryana is a favorite investment destination for foreign investors."
Mitsui & Company India is part of Mitsui Group of Japan, having interest in investment, industrial services and trading and it has annual turnover of US 127 billion in 2007.
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