CHENNAI: Mahindra Lifespace Developers Ltd on Thursday said YKK Corporation will set up a new plant with $150 million investment at its industrial township in Chennai.
Mahindra Lifespace did not disclose whether it has sold land to YKK India or given industrial spaces on lease to set up the factory in its 600-acre cluster 'Origins by Mahindra' in Chennai. The potential revenue was also not divulged.
According to YKK India, this will be the third manufacturing plant in the country and will be spread across approximately 149,936 square metres within the integrated industrial cluster. The facility is expected to be completed by February 2028.
The industrial township is being developed through a joint venture between Mahindra World City Developers and Japan's Sumitomo Corporation.
YKK India, an Indian subsidiary of YKK Corporation, manufactures and supplies fastening products, serving the apparel, textile and industrial sectors across India and international markets.
Mahindra Lifespace is one of the leading real estate developers in the country.