Mahindra World City Developers Limited to jointly develop an Industrial Park with Sumitomo Corporation in Tamil Nadu

Mumbai, May 28, 2015:
Mahindra World City Developers Limited (“MWCDL”), a subsidiary of Mahindra
Lifespace Developers Limited (“MLDL”) and Sumitomo Corporation (“SC”) signed a Joint
Venture (JV)agreement today to set up an Industrial Park in North Chennai (the NH5
corridor).This was announced at a press conference in Mumbai by Ms.Anita Arjundas, MD & CEO, Mahindra Lifespace Developers Limited and Mr.Akito Shiraishi, General Manager, Overseas Industrial Park Department, Sumitomo Corporation.

One of the key enablers to catalyse 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 fulfil that requirement and help India
emerge as a manufacturing destination for more MNCs.

Mr Akito Shiraishi, General Manager,Overseas Industrial Park Department, Sumitomo
Corporation said “This will be our first venture in the industrial park space in India. Tamil Nadu is one of the most preferred destinations for Japanese investors in India, with over 557 Japanese companies having already setup their facilities in the state. We are encouraged by the proactive stance of the Government at the Centre and we see a lot of potential for this venture attracting investments of the right pedigree, and being an extremely successful venture.

Mr.Masahiro Narikiyo, Chairman & Managing Director, Sumitomo Corporation India Private Limited said “We see the partnership with the Mahindra Group as a stepping stone toward more opportunities in this space. We would like to see the relationship with the Mahindra Group extend to other areas where there are synergies between the two groups”

Ms.Anita Arjundas, MD & CEO, Mahindra Lifespace Developers Ltd.said “We are delighted to partner with Sumitomo Corporation to establish an industrial park in Chennai, Tamil Nadu. While it is our maiden venture together, the experience of both the Mahindra Group and Sumitomo Corporation in this space will certainly create an industrial park which will attract companies from across the
world to set up their facilities in an enabling environment. The joint venture
is poised to reap the benefits of best practices from both the groups.”

Ms.Sangeeta Prasad, CEO, Integrated Cities and Industrial Clusters, Mahindra
Lifespace Developers Ltd. said “Mahindra and Sumitomo have created bench mark developments in the industrial park space. We are confident that this
JV with Sumitomo will give an impetus to companies, especially those from Japan, to set up a base in our park. We look forward to the Tamil Nadu Government’s continued support in our second development in the state.”

Mahindra Lifespace Developers Limited (MLDL), 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.

Mahindra World City (MWC), Chennai is a Joint Venture between MLDL and Tamil Nadu Industrial Development Corporation (TIDCO) spanning over 1500 acres and comprises product specific Special Economic Zones (SEZs) and a Domestic Tariff Area (DTA). It houses more than 64 blue chip companies including BASF, BMW, Fujitec, Infosys, Renault Nissan to name a few. MWC. Chennai has garnered a cumulative investment of ~Rs. 5000 crores, generated cumulative exports of ~ Rs.34,000 crores and employment for 37,000 people since its establishment. It also offers residential and social
infrastructure as a part of the integrated ecosystem.


Details of the Joint Venture Project:
Name of the Joint Venture Company:Mahindra Industrial Park Chennai Limited
Location:North Chennai, Tamil Nadu, India
Shareholder Composition：Mahindra World City Developers Limited 60% Sumitomo Corporation 40%
Investment:~Rs. 375crores
Proposed area for development:~ 300 acres

For further enquiries please contact:
Deepa Thomas
General Manager, Group Communications
Mahindra Group
Tel:+91 22 24916855
Email:[email protected]