₹ 1,000-Crore Industrial Park Inaugurated in Ponneri

CHENNAI: The Rs 1,000 crore project ORIGINS, an industrial park developed in a 60:40 joint venture between Mahindra World City Developers Limited, a subsidiary of Mahindra Lifespace Developers Limited, and Sumitomo Corporation was inaugurated by HE Kenji Hiramatsu, Ambassador of Japan to India, in the presence of senior officials from Tamil Nadu government.

Mahindra World City Developers Limited and Sumitomo Corporation have together committed to invest approximately Rs 10,00 crore in developing ORIGINS, Chennai, which is expected to create direct employment for about 7,000 persons when fully operational.

Located on the National Highway-16 growth corridor near Ponneri, phase 1 of ORIGINS spans around 300 acres and is ready for business with all approvals in place.

ORIGINS, Chennai will enable faster go-to-market for businesses via world-class plug-and-play infrastructure, strategic location advantages and a range of value-added services. Yanmar Group, an over 100-year-old Japanese business conglomerate and manufacturer of diesel engines and Nissei Electric, a leading Japanese manufacturer and trader of optical fibre products and electrical components, are both establishing their first manufacturing facilities in India at ORIGINS, Chennai.

Sangeeta Prasad, Managing Director and CEO, Mahindra Lifespace Developers Ltd. said,“ ORIGINS Chennai provides a holistic business ecosystem designed to create employment opportunities and drive long-term socioeconomic growth supporting the Make in India vision. We are proud to have Sumitomo Corporation as our partner in our journey of industrial development in Tamil Nadu.”

Source: NIE

Image Courtesy: Mahindra World City