Mahindra makes massive investment in Gujarat

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Mahindra & Mahindra recently announced its plans of investing Rs 3000 crores in Gujarat to make its presence felt in the hospitality and real estate sectors in the state.
Speaking at the 5th Global Summit of ‘Vibrant Gujarat’,Mahindra & Mahindra Vice-Chairman and Managing Director, Anand Mahindra revelaed that Mahindra group’s companies have signed six MoUs with the Gujarat government totaling an investment of Rs 3000 crore. He, however, did not specify the time frame for these investments.
Mahindra Lifespaces, the real estate development arm of $7.1 billion Mahindra Group, has signed two MoUs with the state government. Mahindra World City is developing a real estate project spread across 500 acres of land. Another group company, Mahindra Holiday & Resorts, that runs the Club Mahindra resorts, will open seven new resorts in the state, Mahindra added. He also hoped that such a move by Mahindra will also generate considerable amount of jobs in the state.
Moreover, investments will also be made on solid waste management and domestic waste management projects, he further said.
Acknowledging that the investment by M&M is much less compared to those announced by other corporates during the summit here, Mahindra said “but we are doing it with passion”.
“Mr Modi I hope you are not angry now as you have been saying that we do not make investments in the state,” he quipped.

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