Japanese firms Hitachi, Takasago, and Ajinomoto are preparing to establish manufacturing facilities near Chennai. These companies are early stakeholders in an agreement with Ascendas, a pioneering Japanese firm, to set up a 1,550-acre integrated industrial township located 50 km south of Chennai.
Ascendas has partnered with three additional firms to develop the township in the southern city.
The industrial township, OneHub Chennai, previously known as Omega Industrial Township, aims to draw investments from Japanese and international businesses. The project has received approval from the Tamil Nadu Government.
- Ajinomoto will establish a new packaging firm and office in OneHub, with plans for product development.
- Hitachi will manufacture automotive components.
- Takasago will set up a manufacturing and R&D office space, which will serve as its headquarters for India and South Asia.
The new township will be completed in several phases over eight years. The Mega Township is expected to attract investments from the auto, electronics, food, beverage, and consumer goods sectors, supporting over 150,000 people upon full development. The first phase is scheduled for completion by 2014.
The $750-million project is a joint venture between Ascendas, a business space developer in Asia, Ireo, a renowned developer covering large residential and commercial spaces in India, JGC Corporation, a management contractor, and Mizuho Bank, an arm of the $2 trillion Japan-based Mizuho Financial Group.