Mahindra World City Developers (MWCDL), a subsidiary of Mahindra Lifespace Developers (MLDL) and Sumitomo Corporation (SC) signed a Joint Venture (JV) agreement to set up an Industrial Park in North Chennai (the NH5 corridor).
One of the key enablers to catalyze the ‘Make in India’ initiative announced by the Government of India is the requirement for ready to use, quality infrastructure. The expertise of the Mahindra Group and Sumitomo Corporation in developing world class industrial parks will provide an impetus to this ‘Make in India’ initiative. The proposed Industrial Park will fulfill that requirement and help India emerge as a manufacturing destination for more MNCs.
MLDL is the real estate and infrastructure development subsidiary of Mahindra & Mahindra (M&M). At present, M&M holds 51% of the equity share capital of MLDL. MLDL has two main lines of businesses - standalone real estate development and development of integrated business cities.
