Mitsui & Company India has signed a memorandum of understanding (MoU) with the Haryana State Industrial & Infrastructure Development Corporation Limited (HSIIDC) and IL&FS Infrastructure Development Corporation to set up an integrated Japanese industrial, transportation and logistic park in Haryana.
The MoU envisages conducting a location study survey (LSS) to find the most suitable site for the project after evaluating all aspects of feasibility of the project like contiguity, connectivity, access to water source etc., which is to be completed within 60 days.
The main components of the project would include transportation and logistic infrastructure, industry and manufacturing support for targeting high end manufacturing, information and services, training facilities, utilities like power generation, energy conservation technologies etc.
The project to be spread over 1,500 acre, is likely to attract Japanese investment to the tune of Rs 5,000 crore ($1 billion) and would create employment for about 10,000 persons directly and indirectly in the core and allied activities. Additional investment both from domestic as well as outside, of around three to five times is expected to come in the supporting activities like industry, manufacturing & services besides generating additional employment many times over.
The project is in line with the joint declaration made by India and Japan, during Prime Ministers Manmohan Singh visit to Japan in October this year.
Rajeev Arora, managing director, HSIIDC, informed that the project has been planned to utilise the opportunities likely to be thrown open by the development of DMIC along the alignment of the proposed dedicated freight corridor. The park would be useful for high-tech industrial solutions, logistics and cold-chains and would also provide multi-level education & research platform, he informed.
Mitsui & Company India Pvt. Limited, is a part of the Mitsui Group of Japan, which has global interests in investment, industrial services and trading. The group, with an annual turnover of $127 billion during the year 2007, has a global network of 159 offices across 67 countries including India.