Avaada Group on Tuesday signed a memorandum of understanding with the Haryana government to facilitate the development of a 300-acre Zero-CBAM Green Industrial Campus in Hisar, with a proposed investment of approximately `10,000 crore and the potential to generate more than 5,000 employment opportunities.
The proposed campus will be powered by reliable, traceable and round-the-clock renewable energy and is designed to support industries seeking to decarbonise operations, strengthen energy security and prepare for evolving global carbon and sustainability requirements, including the European Union’s Carbon Border Adjustment Mechanism (CBAM).
Under the MoU with the Haryana Enterprises Promotion Centre (HEPC), the state government will facilitate the development of the campus as a state-supported Green Industrial/Zero-CBAM Industrial Park. The support will include appropriate industrial-park status, exploration of a customised package of incentives, common infrastructure, connectivity and utilities, and faster statutory approvals through the state’s single-window mechanism.
“We are pleased to partner with the Government of Haryana in advancing a shared vision for sustainable and future-ready industrial growth in the State,” Avaada Group Chairman Vineet Mittal said. “Envisaged with an investment of `10,000 crore, the campus will bring together reliable, traceable and round-the-clock renewable energy with industrial infrastructure designed to support low-carbon and CBAM-ready manufacturing.”
The campus seeks to combine renewable energy, industrial infrastructure and green manufacturing within an integrated ecosystem. Reliable and traceable renewable power is expected to enable participating industries to reduce the carbon intensity of operations and respond to growing demand for low-carbon products and supply chains in global markets.
“We believe this initiative can attract global investments and technology, create over 5,000 employment opportunities and catalyse a new generation of green industrial development in Haryana,” Mittal said.
The partnership will also focus on attracting anchor investors, technology partners and industrial participants. Avaada and the Haryana government will explore joint international investment roadshows across Germany, France, Italy, the Netherlands, Belgium, Japan and South Korea, among other markets, to showcase opportunities in the proposed green industrial ecosystem.
HEPC will serve as the key interface for coordinating with state authorities and facilitating implementation of the project. The campus is expected to create opportunities for domestic and international companies seeking to establish low-carbon manufacturing and industrial operations in India, while supporting Haryana’s industrial growth and employment objectives.