Mahindra’s realty arm ties up with Sumitomo

Mumbai: Realty major Mahindra Lifespace Developers on Thursday announced its partnership with Japan-based Sumitomo Corporation to set up an industrial park in Tamil Nadu spread across 600-700 acres with a total investment of Rs 375 crore.

The project, which will be launched in FY17, will be executed through a JV in which Mahindra World City Developers Ltd, a subsidiary of Mahindra Lifespace will hold a 60 per cent stake and Sumitomo Corporation would hold the balance 40 per cent.