On Sunday, Mahindras declared that they will be investing Rs. 2,300 crore towards Mumbai for the three most alluring projects of the state. It also confirmed that out of that amount, Rs. 1,700 crore will be invested to create a destination for entertainment at Kandivali, which is the north-western suburb of the city.
The chairman of the Mahindra Group, Anand Mahindra addressed the summit of Magnetic Maharashtra Investor, which was held in Mumbai and was inaugurated by the Prime Minister Narendra Modi. He stated that Tech Mahindra is about to spend Rs. 125 crore to design a hub that will be based on an all-green tech. This will be located in Nagpur and is anticipated to create about 2,500 employment opportunities.
With the announcement of Rs. 1,700 crore investment in the city, the company is ready to explore the design of an exclusive destination for film-centric entertainment. This will be constructed on a land owned by the company at Kandivali, Mumbai that is also the center of the Bollywood film industry.
This opportunity will create numerous jobs directly or indirectly as they have planned to invest a huge amount in the innovative venture.
Mahindra is also known to run highly successful services of tour and leisure in the name of Mahindra Holidays. With this announcement, it is evident that they will take over the genre of tourism and other segments on a serious note.
The chairman also informed that the company will further spend Rs. 500 crore in Maharashtra for the policy of the electric vehicles.
Mahindra is the first car maker in the country which is about to launch the electric vehicles. It had bought the electric car company in Bangalore, Reva, which is also the first firm of its kind in the country.
The company had already received a huge order of supplying 150 sedan electric cars to ESSL, a government-owned firm. This will promote the usage of electric cars as a transportation system in the country.