Japanese giant Mitsui & Company India Pvt Ltd has decided to join hands with Haryana State Industrial & Infrastructure Development Corporation Ltd (HSIIDC) and IL&FS Infrastructure Development Corporation Ltd, to set up an Integrated Japanese Industrial, Transportation & Logistic Park in Haryana.
The project is likely to attract Japanese investment to the tune of Rs 5,000 crore ($ 1 billion) and create employment for about 10,000 people, directly and indirectly, in the core and allied activities.
A memorandum of understanding (MoU) was signed between the three organisations here today, in the presence of Haryana Chief Minister Bhupinder Singh Hooda.
The MoU envisages conducting a location study survey to find the most suitable site for the project, after evaluating all the aspects of feasibility of the project like contiguity, connectivity, access to water source etc, which is to be completed within 60 days.
The main components of the project would include transportation and logistic infrastructure, industry and manufacturing support for targeting high-end manufacturing, information and services, training facilities, utilities like power generation, energy conservation technologies etc.
Additional investment both from domestic as well as outside is expected to come in the supporting activities like industry, manufacturing & services, besides generating additional employment many times over.
The project is in line with the Joint Declaration made by the Prime Ministers of Japan & India, during the latter’s visit to Japan in October this year, in furtherance to an overall cooperation on the Delhi-Mumbai Industrial Corridor (DMIC) and to spur mutually-beneficial business relations that serve the long-term interests of both the countries.
Rajeev Arora, managing director, HSIIDC, saidthe project has been planned to utilise the opportunities, likely to be thrown open, by the development of DMIC along the alignment of the proposed Dedicated Freight Corridor.
The Park would be useful for high-tech industrial solutions, logistics and cold-chains and would also provide multi-level education & research platform, he added.
Mitsui & Company India Pvt Ltd is a part of the Mitsui Group of Japan, which has global interests in investment, industrial services and trading. The group, with an annual turnover of $ 127 billion during the year 2007, has a global network of 159 offices across 67 countries including India.
