Gurugram, July 7: The Haryana government announced on Sunday that it would develop a new industrial township, spread in over 1,500 acres in Sohna and Manesar areas of Gurgaon, at a cost of USD 5 billion.

An MoU regarding this was signed between the Haryana government and China Fortune Land Development (CFLD) company in the presence of Chief Minister Manohar Lal Khattar in New Delhi on July 3rd. “The agreement was signed by Managing Director, Haryana Industrial and Infrastructure Development Corporation (HSIIDC), Sudhir Rajpal, and President, China Fortune Land Development Company, Jerry Zhao,” a state government spokesman said here.

Khattar said that under the agreement, HSIIDC and CFLD Company would execute the project as a joint venture (JV). “The Chinese firm would develop infrastructural facilities, industrial units and residential and commercial projects in the township. Industrial units related to automobiles and electronics would be established in this township. “These projects would be completed within the next 10 years and would generate employment opportunities for lakhs of youth, besides making available state-of-the-art health and education facilities,” he said.

Zhao said that the company had identified required land in Sohna and Manesar area, and hoped that all formalities would soon be completed and work on the projects would begin by the end of the year. Over the last nearly four decades, Haryana has emerged as a favoured destination for industrial investment, given the proximity of the state’ss national capital region (NCR) belt to the country’s capital New Delhi.

The first big name to establish base in Haryana, Maruti-Suzuki, piloted by Japanese car manufacturer Suzuki was a runaway success in early 1980s. The big names that have, over the years, lined up to invest in Haryana include automobile giant Suzuki, Honda, Canon, Yakult, Denso, Mitsubishi, Toyo, Daikin, Yokohama, Showa, Nippon, Kansai Paints, Asahi, Stanley and many others.