Mahindra, IFC partner for industrial infra development

Mahindra Lifespace Developers Ltd. (MLDL) and International Finance Corporation (IFC), a member of the World Bank Group, announced a partnership for the development of multiple industrial parks across Gujarat, Rajasthan and Maharashtra.

The partnership envisages investment across Mahindra Lifespaces’ existing and upcoming industrial park projects, with its first investment in an approximately 350-acre industrial park near Ahmedabad.

“Industrial parks or special economic zones are globally recognized as engines for economic growth and development. Development of these parks will attract private investments and provide a fillip to several flagship initiatives of government of India and create jobs,” said Jun Zhang, IFC Country Head for India.

Anita Arjundas, Managing Director, Mahindra Lifespace, “Sustainable industrial ecosystems are key enablers for attracting investment in manufacturing and fast-tracking infrastructure led development.”

IFC has collaborated with Mahindra Lifespaces on carbon pricing and on green residential development. In continuation with this engagement, IFC will explore working with Mahindra Lifespaces and with the occupants of these industrial parks for the adoption of renewable energy under its ‘Eco-Assist’ program.

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