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Friday, 16 December 2016

China's Wanda Group Submits Proposal to Build $10 Billion Township in Haryana's Sonepat

New Delhi : Days after a leading Chinese company signed a memorandum of understanding (MoU) with the Haryana government to set up 100 MW solar power projects in the state with an investment of Rs 500 crore, Wanda Group (one of the largest real estate developers in China) has submitted a proposal for setting up a green field integrated industrial township in Sonepat district in joint venture with the Haryana State Industrial and Infrastructure Development Corporation Limited (HSIIDC).

The joint venture will develop, operate and manage the integrated industrial township at Kharkhoda in Sonipat district.

According to an official spokesperson, the sponsors anticipate that the joint venture will catalyse investment worth $10 billion (Rs 65,000 crore) and generate opportunities for 34,000 direct jobs.

The project at Kharkhoda would fall within the Delhi-Mumbai Industrial Corridor and the National Capital Region. “Jointly developed by Wanda Group and the HSIIDC in phases over 2,800 acres, it will house companies engaged in software, automotive manufacturing, machinery, healthcare education, smart housing appliances and food processing,” he added.

The spokesperson further said a residential township integral to the project, including all civic amenities and social infrastructure, would also be created to develop a 4th generation integrated industrial township. Furthermore, a “cultural tourism city” will also be developed as part of the project.

According to the officials, the investment proposal is an outcome of a series of meetings between chief minister Manohar Lal Khattar, and chairman of Wanda Group Wang Jianlin.

Wanda Group is a $92-billion conglomerate whose business interests encompass shopping malls, theme parks, sports industry, and cinemas. It is one of the largest real estate developers in China with presence in the US, UK, France, Spain, and Australia.

Earlier, the Haryana government had signed an MoU with a leading Chinese company Prestige Ocean Holding and Investments Limited for the setting up of 100 MW solar power projects in the state with an investment of Rs 500 crore. The development had taken place over a month after several BJP leaders, including Haryana ministers, had asked people to boycott Chinese items.


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