Japan's Yanmar group to set up diesel engine plant at Mahindra's industrial park in Chennai
New Delhi, (Jan 25) Japan's Yanmar group will set up a diesel engine manufacturing facility at an industrial park in Chennai being developed by realty firm Mahindra Lifespace Developers.
Mahindra Industrial Park Chennai (MIPCL), a joint venture between Mahindra World City Developers Ltd and Sumitomo Corporation of Japan, said in a statement it has signed "Yanmar group as its anchor customer at ORIGINS by Mahindra World City, North Chennai".
ORIGINS by Mahindra World City comprises industrial clusters of international standards, spanning 250-600 acre and located in high-growth corridors across India.
Yanmar Group, an over 100-year-old business group from Japan, will establish a diesel engine manufacturing facility at ORIGINS to cater to original equipment manufacturers (OEM) in the Indian construction and agriculture sectors.
The facility is expected to be operational by 2020.
The phase one of ORIGINS by Mahindra World City, north Chennai, spans 264 acre and is currently at advanced stages of development, with all approvals in place.
The project is expected to generate direct employment for 7,000 persons when fully completed.
Sangeeta Prasad, managing director and chief executive officer, Mahindra Lifespace, said: "We remain committed in our endeavour to create efficient industrial ecosystems which enable employment and investment."
Hajime Hirai, director and general manager, Yanmar Engine Manufacturing India, said: "India is a high-potential growth market for the Yanmar Group and for our first manufacturing facility in the country, we were seeking an ideal blend of modern infrastructure, strategic connectivity and supporting social amenities."
Yasushi Fukuda, executive officer and general manager, Logistics Infrastructure Business Division, Sumitomo Corporation, said: "Tamil Nadu is one of the most preferred destinations for Japanese investment in India..."
Established in 1994, Mahindra Lifespace Developers is the real estate and infrastructure development business of the USD 20.7-billion Mahindra Group.
The company's development footprint spans 23.8 million sq ft of completed, ongoing and forthcoming residential projects across seven Indian cities; and over 5,000 acre of ongoing and forthcoming projects under development/management at its integrated developments/ industrial clusters in four cities.