A 65-acre Special Economic Zone to be established in Katunayake,will be developed by Mahindra Lifespace Developers, a subsidary of Indian conglomerate Mahindra & Mahindra.
Anand G Mahindra,Vice-Chairman and Managing
Director of Mahindra & Mahindra, told the Island Financial Review that the Memorandum of Understanding between MLD and the Sri Lankan government, has been finalised and work on the SEZ was expected to commence in the new year."Our presence in Sri Lanka, has so far been confined to mainly supplying tractors and three wheel taxis," he said." But,with the end of Sri Lanka’s 30-year-old war, we intend expanding our operations to other areas as well."
A Board of Investment spokesman said the multi development SEZ, will include an Information Technology Park. "It will offer three million square feet of built office space and the prospect of generating over 30,000 jobs. Investors would have a strategic advantage as the SEZ is located opposite the Katunayake International Airport."
The Mahindra Group, with an estimated worth of US$ 6.3 billion, has a strong presence in virtually every sector across the globe and is into diverse businesses such as automobiles, engines, information technology, holidays, rural finance, engineering and stamping and steel.
Its journey began with making general purpose utility vehicles in 1945.
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