Mahindra-Sumitomo industrial park project in last leg of approvals

Chennai, Feb 24 (IANS) The industrial park jointly promoted by India’s Mahindra group and Japanese Sumitomo Corporation is in the final stages of getting necessary approvals, said officials of the Indian group here on Friday.

“The industrial park will be in North Chennai measuring around 250 acres. The land has been acquired. A similar industrial cluster project is also being promoted in Ahmedabad,” Sangeeta Prasad, CEO, Integrated Cities and Industrial Clusters at Mahindra Lifespace Developers Ltd told reporters.

According to her, the North Chennai industrial park will be purely for units targeting the domestic market or domestic tariff area (DTA) units.

Shyam Kalyanasundaram, Business Head at Mahindra Industrial Park Chennai Ltd, said that the first phase of the North Chennai project will be of 250 acres and in phase two a similar sized project is being looked at.

However the officials declined to comment on the capex on these projects.

Prasad said the group’s Jaipur project is getting good traction from investors.

She said the Jaipur project is around 3,000 acres comprising of 1,500 acres of multi-product Special Economic Zone, 500 acres of residential and social infrastructure and 1,000 acres of DTA units.

–IANS

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