In partnership with Sumitomo Corporation, Japan
Mahindra Lifespace Developers, through its subsidiary Mahindra World City Developers (MWCDL), has announced the second phase of their Industrial Parks project in Tamil Nadu under the brand Origins by Mahindra, in partnership with Sumitomo Corporation, Japan. This expansion marks a significant step in enhancing industrial growth in the region.
The Joint Venture Agreement originally signed in 2015, with Sumitomo Corporation was further strengthened through a Supplemental Agreement which involves an investment of approximately Rs 225 crore by MWCDL and Sumitomo Corporation, Japan in Mahindra Industrial Park Chennai (MIPCL), in proportion of their existing shareholding. This new phase will also focus on the acquisition and development of land and associated infrastructure to establish an advanced industrial ecosystem.
MIPCL which currently spans over 307 acres, already hosts global and domestic companies that have set up their industrial facilities. Its objective is to play a pivotal role in supporting the region's industrial and economic growth and offer world-class infrastructure to businesses.
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