Updated January 15th, 2024 at 12:21 IST
Mahindra World City Developers commits Rs 1,000 crore investment in Tamil Nadu
The announcement aligns with the launch of Origins by Mahindra- Phase II at Eliambedu Village in Chennai, serving as the platform for substantial investment.
Mahindra Tamil Nadu investment: Mahindra World City Developers Ltd, a part of the diversified Mahindra Group, has announced a significant investment of Rs 1,000 crore in Tamil Nadu over the next five years. The commitment is directed towards the expansion of its first industrial cluster, the Origins By Mahindra - Phase II project.
The memorandum of understanding for this investment was formalised during the recent Global Investors Meet, signalling Mahindra's confidence in the state's business environment. The investment is expected to create approximately 2,000 new jobs in the region.
The announcement aligns with the launch of Origins by Mahindra- Phase II at Eliambedu Village in Chennai, serving as the platform for substantial investment. The industrial cluster, spread across 307 acres, has already gained popularity among companies from Japan and Taiwan. Positioned along NH-16 near Ponneri on the West of Chennai, Origins by Mahindra has also earned the IGBC Green Cities Platinum rating, underscoring its commitment to sustainable practices.
Amit Kumar Sinha, Managing Director and CEO of Mahindra Lifespaces Developers Ltd, expressed optimism about the expansion. "As we expand our footprint with Origins by Mahindra-Phase-II, the integrated cities and industrial clusters vertical of Mahindra Lifespaces continue to accelerate business efficiency and improve go-to-market with plug-and-play infrastructure. Tamil Nadu's distinguished business environment further enhances our confidence in expanding our operations here," he stated.
Mahindra Lifespaces has been actively contributing to Tamil Nadu's business landscape, and the investment reflects the company's commitment to further growth in the state. The expansion of Origins by Mahindra-Phase-II aims to provide a robust platform for businesses, fostering economic development and job creation in the region.
(With PTI inputs.)
Published January 13th, 2024 at 13:11 IST