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MWCDL and Sumitomo to jointly develop an Industrial Park

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Mahindra World City Developers Limited, a subsidiary of Mahindra Lifespace Developers Limited and Japan headquartered Sumitomo Corporation (Sumitomo) signed a Joint Venture (JV) agreement today to set up an Industrial Park in North Chennai (the NH5 corridor). The proposed Industrial Park will fulfil that requirement and help India emerge as a manufacturing destination for more MNCs.

The real estate and infrastructure arm of the Mahindra Group has pioneered the concept of integrated business cities in India and established two such cities – Mahindra World City Chennai in 2002 and Mahindra World City Jaipur in 2007 using the Public Private Partnership (PPP) model with the respective State Industrial Development Corporations.\

Sumitomo through its Overseas Industrial Park Department is engaged in the business of development, marketing, sales and management of industrial parks.It operates five industrial parks in Indonesia, Vietnam, the Philippines and Myanmar, spanning over 4,460 acres, comprising 363 companies.

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