Korean investment delegation visits Mahindra World Cities in Chennai and Jaipur
Evaluates opportunities for investment and partnership
Chennai/Jaipur, June 15, 2016: Mahindra Lifespace Developers Limited (MLDL), the real estate and infrastructure development arm of the Mahindra Group, recently hosted a first of its kind government and business delegation from South Korea at the Mahindra World Cities in Chennai and Jaipur. The 20-member delegation, representing 11 Korean companies in the automotive, electronics and manufacturing sectors, and three government agencies, was on a week-long tour of India to explore investment and partnership opportunities in the country.
At both MWC Chennai and MWC Jaipur, members of the Korean delegation met and interacted with various on-site companies to better understand their experiences in setting up operations at the integrated business cities and various advantages therein. As part of the tour, the delegation also met representatives of 45 companies in the automotive and engineering sectors during special B2B meetings organised by CII and the ICCK. The initiative was supported by Korea's Ministry of Trade, Industry and Energy (MOTIE) and the Confederation of Indian Industry (CII), while the visit was arranged by the Indian Chamber of Commerce in Korea (ICCK).
Welcoming the delegation, Ms. Sangeeta Prasad, Chief Executive Officer, Integrated Cities and Industrial Clusters, Mahindra Lifespace Developers Limited said, "We are honoured to host our guests from Korea at the Mahindra World Cities and look forward to developing deeper partnerships with Korean industry. As pioneers of sustainable integrated business cities in India, we help our customers focus on their core business areas by providing world class infrastructure and an enabling ecosystem that facilitates faster go-to-market and accelerated business growth."
At MWC Jaipur, Mr. Sock Joong Yoon, Secretary General, ICCK, added, "Well-planned infrastructure is a key driver for business success globally. MWC Jaipur's vision for inclusive growth encompassing local communities, the economy and the environment makes it an ideal business destination for any organisation seeking to consolidate its position in both Indian and global markets." The delegation visited MWC Jaipur on 10th June.
"This is our first visit to India and Tamil Nadu. We are happy to see a planned integrated business city like Mahindra World City (MWC) and we believe this will be a great investment opportunity for companies from Korea. We may also consider investing at MWC for our project in India," said Mr. Dong Hoon Lee, Management Team - Business Strategy, Bujeon Electronics while visiting MWC Chennai along with the rest of the delegation on 7th June.
About Mahindra World City
Mahindra World Cities have pioneered the concept of sustainable, integrated cities designed to create a balance between Livelihood, Living and Life. These integrated urban centers are located near existing metros and comprise SEZs, DTAs, Residential, Retail and Social infrastructure.
Planned as single point destinations for domestic and global companies, the Mahindra World Cities in Jaipur and Chennai are envisioned to generate direct employment for more than 200,000 people at full stage of development. At Mahindra World City, the Living and Life Zone, located alongside the Business Zone, offers residences, schools, medical centers, retail solutions, business hotels, recreation and leisure facilities, and wide open green spaces for a clean, healthy environment. Bringing 'Life' to the city is an environment replete with culture, sports, music, festivals and more.
Mahindra World City, Chennai, located on NH45, spans over 1550 acres and houses more than 60 blue-chip companies across IT, Auto, Fashion and Apparel sectors. MWC Chennai is India’s first IGBC Gold Certified "green township." MWC Chennai is promoted in a PPP between Mahindra Group and Tamil Nadu Industrial Development Corporation Ltd (TIDCO).
Mahindra World City, Jaipur, located off NH8, spans 3000 acres, houses more than 65 global and Indian companies and is a joint development with Rajasthan State Industrial Development and Investment Corporation (RIICO). It has been selected as one of 17 projects worldwide by the Clinton Climate Initiative (CCI).
Visit us at www.mahindraworldcity.com
About Mahindra Lifespace Developers Ltd.
Mahindra Lifespace Developers Ltd., the real estate and infrastructure development business of the $17.8 billion Mahindra Group, is a leader and pioneer in sustainable urban development, through the creation of residential and integrated large format developments across nine Indian cities - Mumbai, Pune, Nagpur, Gurgaon, Faridabad, Jaipur, Chennai, Hyderabad and Bengaluru. The company’s residential and commercial development footprint includes over 1.20 million sq. m. (12.94 million sq ft) of completed projects and over 0.88 million sq. m. (9.44 million sq. ft.) of ongoing and forthcoming projects.
Mahindra Lifespaces has pioneered the concept of an integrated business city through 'Mahindra World City' developments in Chennai and Jaipur; built on the philosophy of 'Livelihood-Living-Life', these developments span 1796 hectares (4,437 acres), house over 125 global and Indian companies and serve to drive economic growth and community development. In addition, Mahindra Lifespaces enables access to quality housing at affordable prices via its brand 'Happinest'.
A pioneer of the green homes movement in India, Mahindra Lifespaces is the first Indian real estate company to have voluntarily released its triple bottom-line focused, externally assured Sustainability Report based on the GRI (Global Reporting Initiative) framework. In 2015, Mahindra Lifespaces has been recognized as Regional Sector Leader in Asia, in its category, by the Global Real Estate Sustainability Benchmark (GRESB) for the second year in a row.
The Mahindra Group focuses on enabling people to rise through solutions that power mobility, drive rural prosperity, enhance urban lifestyles and increase business efficiency.
A USD 16.9 billion multinational group based in Mumbai, India, Mahindra provides employment opportunities to over 200,000 people in over 100 countries. Mahindra operates in the key industries that drive economic growth, enjoying a leadership position in tractors, utility vehicles, information technology, financial services and vacation ownership. In addition, Mahindra enjoys a strong presence in the agribusiness, aerospace, components, consulting services, defence, energy, industrial equipment, logistics, real estate, retail, steel, commercial vehicles and two wheeler industries.
In 2015, Mahindra & Mahindra was recognized as the Best Company for CSR in India in a study by the Economic Times. In 2014, Mahindra featured on the Forbes Global 2000, a comprehensive listing of the world’s largest, most powerful public companies, as measured by revenue, profit, assets and market value. The Mahindra Group also received the Financial Times ‘Boldness in Business’ Award in the ‘Emerging Markets’ category in 2013.
Visit us at www.mahindra.com
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