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Mahindra Lifespace Developers Ltd and International Finance Corporation (IFC), part of the World Bank Group, announced a partnership on Monday for the development of multiple industrial parks across Gujarat, Rajasthan and Maharashtra.
Under the deal, IFC will invest in Mahindra Lifespaces’ existing and upcoming industrial park projects, the first being an approximately 350-acre park near Ahmedabad. “Industrial parks or SEZs are globally recognised as engines for economic growth and development.
Development of these parks will attract private investments and provide a fillip to several flagship initiatives of the Government of India and create jobs,” said Jun Zhang, IFC Country Head. Anita Arjundas, MD, Mahindra Lifespace, said: “Sustainable industrial ecosystems are key enablers for attracting investment in manufacturing and fast-tracking infrastructure led development”.
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