Korean investment delegation visit Mahindra World City, Chennai


Delegation evaluated opportunities for investment and partnership

Chennai, August 06, 2017: Mahindra Lifespace Developers Limited (MLDL), the real estate and infrastructure development arm of the USD19 billion Mahindra Group, today hosted a visit by a South Korean business delegation to Mahindra World City (MWC), Chennai, on July 27, 2017.

The delegation comprises ten Korean companies, and will be in Chennai until July 28th to evaluate potential investments in India. The Korean delegation includes representatives of SHTECH CO.LTD, SENSORTEC, LATTRON Co., NEXTCHIP, amongst other companies, and consists mainly of auto component makers considering investments in India.

As part of the tour of Mahindra World City, Chennai, members of the delegation also met and interacted with companies operational at the integrated city. The visit was the second of its kind by a Korean delegation to India, and was arranged by the Indian Chamber of Commerce in Korea (ICCK), with support from Mahindra World City, Mahindra Korea and the government of Tamil Nadu.

“We welcome our guests from Korea and look forward to developing deeper partnerships with Korean industry.  The Mahindra World City developments in Chennai and Jaipur are already a destination of choice for more than 135 global and domestic companies, and provide an enabling ecosystem for accelerated business growth in India,” said Ms. Sangeeta Prasad, Chief Executive Officer, Integrated Cities and Industrial Clusters, Mahindra Lifespace Developers Limited.

“The visit shows the growing interest that Korean firms are taking in the Indian market,” said ICCK Chairman, Dilip Sundaram. “We hope that the visit will help to upgrade bilateral investment activities as our two economies continue to grow in complementary directions.”

Mahindra World City has been conceived and developed as an integrated business city and is the first of its kind in India. Thoughtfully designed to create a balance between ‘Livelihood, Living and Life’, the Mahindra World City (MWC) developments in Chennai and Jaipur comprise large-format integrated cities that have been planned to be self-contained, with co-located industrial, residential and commercial infrastructure.  Together, MWC Chennai and MWC Jaipur encompass dedicated Special Economic Zones, a Domestic Tariff Area, and residential and social spaces, and have created employment for more than 46,000 persons so far (direct employment).

The Mahindra World City concept is synonymous with sustainable urban development; both the Mahindra World Cities have been developed on environment-friendly principles and serve to drive community growth and economic development.  MWC Chennai is India’s first IGBC (Indian Green Building Council) Gold certified Green Township and home to corporate India’s first operational SEZ.  Mahindra World City, Jaipur is the first project in Asia to receive Climate Positive Development Stage 2 Certification from the C40 Cities Climate Leadership Group (C40), a global network of large cities acting to address climate change.

Mahindra Lifespace Developers Limited, through a joint venture between its subsidiary Mahindra World City Developers Limited and Sumitomo Corporation of Japan, is also setting up an approximately 264-acre industrial park in North Chennai. Additionally, earlier this year, Mahindra Lifespaces announced plans to establish a 350-acre (approx.), multi-product industrial park near Ahmedabad, in the Indian state of Gujarat.

Corporate Comm India(CCI Newswire)