Mahindra Lifespaces announces continuing partnership with Sumitomo Corporation for its Industrial Clusters business

New Delhi, November 22, 2024: Mahindra Lifespace Developers Ltd. (MLDL) through its subsidiary Mahindra World City Developers Limited (MWCDL), has announced the second phase of their Industrial Parks project in Tamil Nadu under the brand “Origins by Mahindra,” in partnership with Sumitomo Corporation, Japan. 

The Joint Venture Agreement originally signed in 2015, with Sumitomo Corporation was further strengthened on Friday through a Supplemental Agreement which involves an investment of approximately ₹225 crores by MWCDL and Sumitomo Corporation, Japan in Mahindra Industrial Park Chennai Limited (MIPCL), in proportion of their existing shareholding. This new phase will also focus on the acquisition and development of land and associated infrastructure to establish an advanced industrial ecosystem, mentions a press release issued by the company.

Amit Kumar Sinha, Managing Director & CEO, Mahindra Lifespace Developers Ltd., said “At Mahindra Lifespaces, we take pride in developing industrial clusters and integrated cities that drive economic growth and support businesses. The partnership with Sumitomo Corporation, reflects our commitment to fostering progress and enabling industries to thrive sustainably.”