Mahindra Lifespace Developers Limited Announces Inauguration of the Yanmar Group Facility at ORIGINS, Chennai
February 16, 2021 at 09:08 am EST
Share
Mahindra Lifespace Developers Limited (`MLDL') announced the inauguration of the Yanmar Group facility at ORIGINS, Chennai. ORIGINS, Chennai is an industrial park developed to international standards in a joint venture between a subsidiary of MLDL and Sumitomo Corporation of Japan. The Yanmar Group facility was e-inaugurated by Hon'ble Chief Minister of Tamil Nadu, Shri Edappadi K. Palaniswami. With a built-up area of 23708 sq. mts, the Yanmar Group facility at ORIGINS, Chennai has an annual production capacity of 80,000 engines and will cater to domestic and export markets. The total planned investment in the facility is of INR 5000 million. by Yanmar Group, Japan. The new facility will manufacture diesel engines for tractors, construction equipment and generators. Mahindra World City Developers Limited and Sumitomo Corporation have together committed to invest approximately INR 10,000 million in developing ORIGINS, Chennai, which is expected to create direct employment for about 7000 persons when fully operational. Phase 1 of ORIGINS, Chennai spans ~300 acres and was inaugurated in 2019 with three Japanese customers and all approvals in place. ORIGINS, Chennai currently has a robust pipeline of companies likely to invest soon. Yanmar Group, an over 100-year-old Japanese business conglomerate and manufacturer of diesel engines, agricultural machinery, construction machinery; Nissei Electric, a leading Japanese manufacturer and trader of optical fibre products and electrical components; and USUI Susira a Japanese auto component manufacturing company are all establishing their manufacturing facilities in India at ORIGINS, Chennai. The Yanmar facility at ORIGINS, Chennai will cater to original equipment manufacturers (OEM) in the Indian construction and agriculture sectors.
Mahindra Lifespace Developers Limited is an India-based real estate development company. The Company is engaged in developing residential projects in the premium and value housing segments, as well as integrated cities and industrial clusters. Its segments include Projects, Project Management and Development, and Operating of Commercial Complexes. Projects, Project Management & Development segment of the business includes income from sale of residential units across projects, project management and development in India. Operating of Commercial Complexes segment of the business includes rental income from commercial properties at Delhi. Its projects include Roots, Vicino, Alcove, Meridian, Happinest Palghar 1, Happinest Palghar 2, Happinest Kalyan 1, Happinest Kalyan 2, Centralis, Happinest Tathawade, Bloomdale, Luminare, Aqualily, Lakewoods, Happinest Avadi, Happinest MWC and others.