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Follow UsPatricia Sridhar
India's first world-class private sector industrial park, the Mahindra Industrial Park Limited (MIPL) is being readied for launch in July 2001. This heralds yet another sizable IT park in Chennai, all of 220 acres.
The Mahindra Industrial Park is promoted jointly by the Mahindra Group, Infrastructure Leasing & Financial Services Ltd (IL&FS), and Tamil Nadu Development Corporation Ltd (TIDCO) who will invest Rs 85 crore in the ratio 50:39:11 respectively, for Phase I.. "A further investment of Rs 65 crore is being pumped in through commercial borrowings for Phase I. The Rs 250 crore project, to be spread over an area of 1,400 acres, will be fully operational in the next two years," said George Abraham, General Manager-Marketing, Mahindra Industrial Park Limited.
The Mahindra Industrial Park, in its entirety, will be spread over 1,400 acres. The industrial park will primarily target hardware manufacturers (PC manufacturers and chip producers) and assemblers apart from IT enabled service providers. Software companies are also welcome to set up office at the park. The park is also open to auto ancillary manufacturers, manufacturers of electricals and electronics.
Customers may be able to chose between going in for constructed portions or land on an ownership or leased basis. The park has allocated 60 percent for foreign companies and the remaining 40 percent will be for Indian companies.
The Mahindra Industrial Park is estimated at Rs 240 crore of which 150 crore will be spent on Phase I for developing 820 acres of the park. "Phase I is slated for completion by April 2001 and will be complete with fibre optic connectivity, landscapes, roads, water supply, sewage etc. The remaining 580 acres will be completed in Phase II after two or three years," said George Abraham.
Telecommunications at the Mahindra Industrial Park, being taken care of by DoT, will be completed by April 2001. However, the building for the telecom exchange and the ducting for connectivity will be provided by the park.
The modular telephone exchange which has the capacity to offer 20,000 too 30,000 lines, would initially provide 1000 lines. Software Technology Parks of India (STPI) and VSNL will provide the necessary connectivity for Internet and data transmission.
Other facilities include 100 percent uptime on power with 110 KV substation. A 100 MW captive power plant is proposed as back up. Potable water supply, cable and statellite links will also be provided. To maintain its mission of being a clean and green industrial park, the Mahindra Industrial Park will possess a waste disposal system, water and sewage treatment plant.
The Mahindra Industrial Park Limited has entered into marketing tie-up with Mitsubishi Corporation, Japan. Discussions are at an advanced stage for entering into a marketing alliance with JTC International, Singapore which provided the master plan for the Mahindra Industrial Park project.
The park is located 35 kms from the Chennai airport, very near to Chengalput town and the Ford facility. The Mahindra Industrial Park will include 40 acres of lush area. With a forest reserve on the west, the Chengalput lake on the south and hills on the east, the Mahindra Industrial Park provides the right ambience for industries be it manufacturers of auto ancillaries, electricals and electronics, hardware and software and IT enabled service providers. The park will also house banks, a post office, police station, shopping mall, hotel, restaurants and a health club and medical center.