China’s Wanda Group to Build $10bn Township in Haryana

Implementing the idea of creating an advanced city, Haryana State Industrial and Infrastructure Development Corporation Limited (HSIIDC) is expected to have a joint venture with Wanda Group, a real estate developer in China, for setting up a green -field integrated industrial township in Sonipat district.

Reportedly, Haryana government has already signed a memorandum of understanding (MoU) with a Chinese company, Prestige Ocean Holding and Investments Limited to set up 100 MW solar power projects with an investment of Rs 500 crore. Wanda Group’s proposal will be an extended plan to develop, operate and manage the integrated industrial township at Kharkhoda in Sonipat district.

As per the anticipation by sponsors, this joint venture will have a scope to invest worth $10 billion (Rs 65,000 crore) with 34,000 direct job opportunities across multiple fields like software, automotive manufacturing, machinery, healthcare education, smart housing appliances and food processing. The project at Kharkhoda will be spread over 2,800 acres within the Delhi-Mumbai Industrial Corridor and the National Capital Region.

This joint venture is ready to develop a 4th generation integrated industrial township with cultural tourism city and residential township that includes all civic amenities and social infrastructure, according to an official spokesperson.

Source: ET Realty

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