Mahindra World City expects Rs 500-600 crore investment in next 2 years

Mahindra World City, an integrated city set up jointly by the Mahindra Group and the Tamil Nadu Industrial Development Corporation (Tidco) near Chennai, expects to attract Rs 500-600 crore investment in the next two years.

Exports from the City is expected to reach around Rs 10,000 crore by 2017-18.

Mahindra World City Developers Ltd (MWCD) today launched MWC club in the City as part of creating social infrastructure for customers.

The club was inaugurated by Pawan Goenka, executive director of Mahindra & Mahindra Ltd, and Raman Ramachandran, head of BASF India South Asia operations.

Speaking on the sidelines, Anita Arjunadas, managing director and chief executive officer of Mahindra Lifespace Developers said so far the city had been able to attract investments worth around Rs 4,000 crore from the Mahindra Group and other private companies.

She said exports from the City increased to around Rs 8,000 crore this year, from Rs 4,500 crore in 2011-12.

S Chandru, chief operating officer of Mahindra World City Developers Ltd said a total 49 companies were operating in the City and another 15 are expected to start operations over the next two years.

Currently around 30,000 people are working in the integrated city, predominantly IT companies, including Infosys, Ascendas, Wipro, Capgemini and Mastek. IT sector accounts for nearly 75 per cent of the exports from the integrated city, he said.

Mahindra India