Pact for Mahindra World City at Dholera in Gujarat

By IANS
Wednesday, January 12, 2011

GANDHINAGAR - The Mahindra group has signed a pact with the Gujarat government for a Rs.400 million World City at the tiny port city of Dholera on the Gulf of Khambhat in Ahmedabad district, along the upcoming Mumbai-Delhi industrial corridor.

The pact was signed by Mahindra Lifespace Developers, which is part of the larger $7.1 billion Mahindra Group, at the ongoing Vibrant Gujarat global investment summit.

“The aim is to develop a self-sustaining urban centre as part of the special investment region in Gujarat along the Delhi-Mumbai industrial corridor,” said a statement issued by the automobile-to-tech major Mahindra and Mahindra group.

“The development will be spread across 3,000 acres with an investment of Rs.2,000 crore ($445 million), which when fully operational can create employment for over 100,000 people and attract investment in excess of Rs.10,000 crore ($2.2 billion),” it said.

Another pact by the group is for developing a high quality and professionally-managed industrial park of around 500 acres located close to an existing industrial or commercial centre near the Ahmedabad-Gandhinagar twin-city.

“It will cater to the infrastructure needs of Indian and international companies in Gujarat. The park, when fully developed will create approximately 25,000 jobs and attract over Rs.1,000 crore ($225 million) of investment,” said the statement.

Mahindra Lifespace Developers has been associated with both residential and commercial properties in Mumbai, Pune, Delhi and its neighbourhood, Chennai and Jaipur.

Filed under: Economy

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