Mahindra World City Developers (MWCDL), Sumitomo Corporation, and Mahindra Industrial Park Chennai (MIPCL) have signed a supplemental joint venture agreement to expand their industrial park in Tamil Nadu.

The project involves a joint investment of approximately Rs 225 crore by MIPCL shareholders, aligned with their existing shareholding structure. Currently spanning 307 acres, the industrial park will focus on land acquisition and infrastructure development to establish a world-class industrial ecosystem. This expansion aims to attract global businesses and support future growth.

MWCDL which is a subsidiary of Mahindra Lifespace Developers (MLDL), holds an 89 per cent equity stake in the venture with Tamil Nadu Industrial Development Corporation (TIDCO), which holds the remaining 11 per cent. MWCDL also owns a 60 per cent stake in MIPCL, while Sumitomo Corporation holds 40 per cent.

This strategic collaboration emphasises the shared commitment to strengthening Tamil Nadu’s position as a leading hub for manufacturing and industrial development in India.