Sojitz to Begin Leasing Phase I Factory at Industrial Park in Chennai Suburbs, India
– Highly Accessible Location, Ready Factory Space, and Reduced Upfront Costs –
Dec. 16, 2020
Sojitz Corporation’s (“Sojitz”) venture - Sojitz Motherson Industrial Park (“SMIP”) will begin leasing spaces at its phase 1 factory. Located in Chennai’s suburbs in Tamil Nadu, India, SMIP is a joint venture project of Sojitz with the Motherson Group, a leading manufacturer of automotive components globally with presence in 41 countries.
In the last five years, India has demonstrated high economic growth at an approximately 7% rate, and with its population of 1.3 billion it is projected to become the world’s most populous country by 2027. India is therefore anticipated to lead the global economy over the mid- to long-term, and the country is expected to continue to attract investment from Japan and other foreign countries going forward.
Chennai is the largest city in South India, which is known as the “Detroit of India.” It is a hub for automotive manufacturers and also attracts a wide range of industries such as IT and electronics. Chennai has an excellent port facing Southeast Asia, and it has garnered attention as an export base for routing goods to Southeast Asia, the Middle East, and in recent years, to Africa.
SMIP’s location is highly accessible. The industrial park is just a 30-minute drive from Chennai’s largest industrial center, Oragadam; a 90-minute drive to Chennai’s city center; and 120-minutes from the Chennai port.
SMIP’s phase 1 factory has rental spaces starting from 1,000㎡. The factory spaces are ready to start production immediately, and SMIP provides companies with the benefit of lowered upfront expenses. In addition to its rental factory spaces, SMIP provides Land plots at sizes up to 10 ha (100,000㎡). All plots are equipped with basic infrastructure such as electricity and plumbing.
In addition to SMIP, Sojitz has experience developing and managing industrial parks such as the Greenland International Industrial Center (GIIC) in Indonesia, and the Loteco Industrial Park and Long Duc Industrial Park in Vietnam. Leveraging its extensive know-how of industrial park development and operations, Sojitz will continue to develop industrial parks that meet the needs of its customers and contribute to the sustainable growth and development of society.
Overview of Sojitz Motherson Industrial Park
|Operator||Motherson Auto Solutions Limited|
|Equity ownership||Motherson Group: 66%; Sojitz: 34%|
|Location||Suburbs of Chennai, Tamil Nadu, India|
|Total development area||115ha|
|Start of Occupancy||
Industrial plots: Available for immediate occupationPhase 1 rental factories: Available for immediate occupation
Overview of Motherson Group
|Sales||Annual sales: Approx. JPY 1 trillion|
|Head Office||Delhi (NCR), India|
|Main Business||Manufacture of automotive parts|