Pact for Mahindra World City at Dholera in Gujarat

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.