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Chennai December 14, 2007: Mahindra World City Developers Ltd (MWCDL), the pioneer in Special Economic Zones (SEZ) development in India, today inaugurated the redesigned station building and passenger amenities at the Paranur railway station, adjoining Mahindra World City, New Chennai. A public private partnership initiative between Mahindra World City and Southern Railway, the Paranur railway station is the first to be redesigned and maintained by the corporate sector. This is another pioneering effort from Mahindra World City, which has built India’s first operational and highly successful SEZ in a public-private partnership.
Present on the occasion were the Chief Guest, Thiru R.Velu, Honourable Minister of State for Railways, Government of India, Thiru. T.M. Anbarasan, Honourable Minister of Labour, Government of Tamil Nadu and Mr. Arun Nanda, Executive Director, M&M and President – Infrastructure Development Sector, M&M, among other dignitaries.
With an investment of over 1.5 crores, the new station building has modern passenger amenities including:
Addressing the media on this occasion, the Chief Guest Thiru R.Velu, Honourable Minister of State for Railways, Government of India, said, 'The remodeling of the Paranur Railway Station is a welcome initiative by Mahindra World City. This is an outstanding example of how the corporate sector can improve the country’s infrastructure.'
Thiru. T.M. Anbarasan, Honourable Minister of Labour, Government of Tamil Nadu said, 'This public private initiative by Mahindra World City is a proud achievement for the state of Tamil Nadu. The is a step towards improving the infrastructure for those employed in Mahindra World City.'
Mr. Arun Nanda, Executive Director, M&M and President – Infrastructure Development Sector, M&M said, 'Mahindra World City is the country’s first fully functional SEZ in public-private partnership and we hope to carry this immensely successful partnership with Paranur railway station. It is also our constant endeavor to provide infrastructure on par with global standards, which will enable Mahindra World City to attract the best companies worldwide. Redesign and maintenance of the Paranur railway station is a step forward in our commitment. This station currently operates over 64 local services between Chengelpat and Chennai Beach station with over 2000 people using the services to commute to work. In the next 5 years, we expect 40% of the park population to use the train services.'
About Mahindra World City Developers Ltd.
Mahindra World City, New Chennai - Corporate India’s first Operational SEZ and India’s first Integrated Business City is promoted by the Mahindra Group and TIDCO ( Govt. of Tamil Nadu Enterprise). A successful public private initiative, Mahindra World City is a standard for successful & responsible SEZ development in the country and acclaimed for its excellence in providing world class Infrastructure.
Situated on the National Highway 45, Mahindra World City is located 45 km from Chennai City & is 30 minutes away from the Chennai International airport. Spread over 1400 acres in set in a scenic surround, Mahindra World City is well connected by both rail and road links, with a railway station onsite.
Mahindra World City is divided into three sector-specific Special Economic Zones (Information Technology & Electronic Hardware, Apparel & Fashion Accessories and Auto Components), a Domestic Tariff Area and a Residential / Social zone. Mahindra World City today has over 35 customers, with leading companies like BMW, Braun, TTK Group, Cap Gemini, Infosys, Nestronics, Mastek, MindTree, Tech Mahindra, Renault- Nissan, Wipro, Madras Engineering, Timken, TVS Group of companies, among others.
Eleven companies have commenced operations and currently over 6000 persons work out of these units. The other customers are in the process of setting up their facilities and are expected to be operational in early 2008. The annual exports was over Rs 500 crores for the year 2006 – 2007.
Over the next 5years, Mahindra World City is expected to have companies generating 50,000 jobs, see investments by these companies to the tune of US$ 1.0 to US$ 1.5 billion and exports in excess of US$ 1.0 billion from the units operating out of Mahindra World City.
About the Mahindra Group
The US $6 billion Mahindra Group is among the top 10 industrial houses in India. Mahindra & Mahindra is the only Indian company among the top three tractor manufacturers in the world. Mahindra’s Farm Equipment Sector has recently won the Japan Quality Medal, the only tractor company worldwide to be bestowed this honour. It also holds the distinction of being the only tractor company worldwide to win the Deming Prize. Mahindra is the market leader in multi-utility vehicles in India. It made a milestone entry into the passenger car segment with the Logan.
The Group has a leading presence in key sectors of the Indian economy, including the financial services (Mahindra & Mahindra Financial Services Ltd, Mahindra Insurance Brokers Ltd., Mahindra Rural Housing Ltd.), trade and logistics (Mahindra Intertrade Ltd., Mahindra Steel Service Ltd., Mahindra Middleeast Electrical Steel Service Centre FZE, Mahindra Logistics) automotive components (Mahindra Forging, Mahindra Steel Products, Mahindra Composites), information technology (Tech Mahindra, Bristlecone), and infrastructure development (Mahindra Lifespaces, Mahindra Holidays & Resorts India Ltd., Mahindra World City).
With over 62 years of manufacturing experience, the Mahindra Group has built a strong base in technology, engineering, marketing and distribution which are key to its evolution as a customer-centric organization. The Group employs over 50,000 people and has several state-of-the-art facilities in India and overseas.
The Mahindra Group has ambitious global aspirations and has a presence on five continents. Mahindra products are today available on every continent except Antarctica. M&M has one tractor manufacturing plant in China, three assembly plants in the United States and one at Brisbane, Australia. It has made strategic acquisitions across the globe including Stokes Forgings (UK), Jeco Holding AG (Germany) and Schoneweiss & Co GmbH (Germany). Its global subsidiaries include Mahindra Europe Srl. based in Italy, Mahindra USA Inc. and Mahindra South Africa.
M&M has entered into partnerships with international companies like Renault SA, France, and International Truck and Engine Corporation, USA. Forbes has ranked the Mahindra Group in its Top 200 list of the World’s Most Reputable Companies and in the Top 10 list of Most Reputable Indian companies. Mahindra has recently been honoured with the Bombay Chamber Good Corporate Citizen Award for 2006-07.