IFC infuses Rs.320 cr in realty projects

    International Finance Corporation (IFC)
    The International Finance Corporation (IFC) will invest about Rs.320 crore in realty firm Mahindra Lifespace Developers' industrial park projects across Gujarat, Rajasthan, and Maharashtra. The latter is the real estate and infrastructure development arm of the Mahindra Group while IFC is a member of the World Bank group. Mahindra Lifespace and IFC announced a partnership for the development of multiple industrial parks across Gujarat, Rajasthan and Maharashtra. The partnership envisages investment across Mahindra Lifespaces' existing and upcoming industrial park projects, with its first investment in an approximately 350-acre industrial park near Ahmedabad, MD Anita Arjundas said that sustainable industrial ecosystems are key enablers for attracting investment in manufacturing. Development of these parks will attract private investments and provide a fillip to several flagship initiatives of the Government of India and create jobs, said Jun Zhang, IFC Country Head for India.
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