Mahindra Lifespaces Developers, the real estate and infrastructure development arm of the Mahindra Group, has introduced a new brand of industrial clusters located across India. Under the new brand ‘ORIGINS by Mahindra World City’, the company’s first two projects will come up in North Chennaiand Ahmedabad, with an estimated investment of Rs 600 crores.
The first phase of proposed North Chennai project will have 264 acre development and this is a joint venture between Mahindra World City Developers and Japan’s Sumitomo Corporation. Total size of this project will be 500 acres.
The second project is located near Ahmedabad, with a phase 1 development of 268 acres, and is being developed along with International Finance Corporation (IFC) as a strategic partner. The project’s total size will be up to 350 acre.
Together, these industrial clusters are expected to create direct employment for around 20000 persons and will target companies across the engineering, medical equipment, food processing and logistics sectors, amongst others, Mahindra Lifespaces said in a release.
Mahindra World City’s developments in Chennai and Jaipur together span nearly 4500 acres; house 150 global and domestic companies that have created direct employment for over 45,000 persons; have generated exports exceeding $ 1.75 billion annually, the company added.