Billionaire Wang’s plans for $10bn Wanda Industrial New City in Delhi-Mumbai corridor approved

Wanda Industrial New City: Billionaire Chinese real estate developer Wang Jianlin Dalian Wanda Group’s plans to invest up to $10bn in a vast industrial township in northern India moved one stepped closer to fruition last week when it confirmed that it has had signed an MoU with the authorities in Haryana state committing to develop a ‘world-class  comprehensive industrial park’ on a 13-km² site in the Delhi-Mumbai industrial corridor.
Dubbed the Wanda Industrial New City, the  project is part of Wanda’s plans to tap into the potential of India’s massive population and strong economic growth – predicted to hit 7.8% this year – by investing in a number of industries  including the software, automotive, machinery, healthcare and education sectors.
The project has been under discussion since last summer when Wang visited India on the invitation of Prime Minister Narendra Modi.  According to a press release issued last Friday, Haryana state will offer Wanda “the most preferential policies” to support the project and is planning to adopt a “Chinese special administrative region management model to oversee the project to provide a one-stop service for investors.”

Source: financeasia