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Mahindra Lifespace industrial cluster in city goes on stream

Press Trust of India  |  Chennai 

: Mahindra Lifespace Developers Ltd Friday announced the inauguration of the first industrial cluster ORIGINS in association with Sumitomo Corporation, Japan.

Japan Ambassador to India Kenji Hiramatsu along with top company officials formally inaugurated ORIGINS here.

ORIGINS, Chennai is a 60-40 joint venture between Mahindra World City Developers, a subsidiary of Mahindra Lifespace Developers Ltd and Japan-based Sumitomo Corporation.

The companies have jointly committed to invest around Rs 1,000 crore in ORIGINS which is expected to generate 7,000 new jobs when the cluster becomes fully operational.

The first phase of ORIGINS spread across 300 acres and the target customers would be in engineering, food processing, automotive, logistics and aerospace sectors.

"It is gratifying to see our vision of a future-focused and sustainable industrial cluster come to life," Mahindra Lifespace Developers, Managing Director and CEO, Sangeeta Prasad said.

"ORIGINS, Chennai provides a holistic business ecosystem designed to create employment opportunities and drive long-term socioeconomic growth. We are proud to have Sumitomo Corporation as our partner in our journey of industrial development in Tamil Nadu," she said.

Sumitomo Corporation, Infrastructure Business, Unit, Managing Executive Officer and General Manager, Tsutomu Akimoto said, "Tamil Nadu is one of the most promising destinations for Japanese investments in India and I strongly believe ORIGINS, Chennai can enhance the state's attractiveness as an innovation and manufacturing hub."

"Sumitomo Corporation is committed to making relentless efforts to contribute to Make in India, and realise prosperity and dreams for all people of Tamil Nadu through our industrial park business," he said.

Mahindra Lifespace on the occasion also signed pacts with Japan-based Yanmar Engine Manufacturing India and Nissei Electric, it said.

ORIGINS also bagged the Indian Green Building Council Green Cities' Platinum rating, it added.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Fri, April 26 2019. 16:25 IST