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400 companies, including nine blue-chip firms, have purchased industrial land. The overall investment from these enterprises is estimated to be around Rs 9,000 crore, with 51,000 people directly employed once operations commence.
Model Economic Township Limited (METL) is a wholly owned subsidiary of Reliance Industries Limited that is developing an integrated industrial township in Jhajjar, Haryana.
The corporation has already invested over Rs 8,000 crore in the project, and the next Rs 1,000 crore phase, which will build additional infrastructure, is on schedule. Over 2,500 acres of land are now being developed.
Over 400 customers, including nine blue-chip businesses such as Panasonic, Denso, Tsuzuki, Bodytech, and Dinamic Oil, have purchased industrial land totaling 1,856 acres.
What Are METL’s Ambitions For The Entire 8,250-Acre Property? How Many Stages Will This Go Through?
An integrated township of up to 8,250 acres will be created with an emphasis on investments and job creation through specialised manufacturing and services zones, in addition to establishing areas for residential, commercial, and institutional development.
Over the next few years, the project will be constructed in three or four phases. Over 2,500 acres are currently under development, with over 400 enterprises taking up residence. Over 1,500 residential plots have been sold to a variety of consumers.
We are also constructing a robust commercial and institutional infrastructure in order to build a self-sustaining city in which people may live and walk to work while experiencing world-class infrastructure.
What Has The Overall Investment Been So Far?
We have already invested over Rs 8,000 crore in the project, and a further Rs 1,000 crore infrastructure investment programme is underway.
What Is The Potential For Planned Industrial Real Estate Development, Its Contribution To Job Creation, ‘Aatmanirbhar Bharat,’ And Long-Term Growth?
Currently, 24 of the almost 400 enterprises that have signed up are functioning, with another 46 under construction. 20,000 individuals are already working in our project area as we speak.
The prospective investments based on bookings to date will be more than Rs 9,000 crore, with these enterprises employing more than 51,000 people over the next four years.
MET City will be one of the largest projects of its kind, enabling not only ‘Make in India’ / ‘Aatmanirbhar Bharat,’ but also employing a large number of people.
Licences For 1,856 Acres Have Been Issued, And 400 Companies Have Purchased Freehold Land
We have secured a licence for 1,856 acres, and yes, we have sold industrial land to over 400 customers, including nine blue-chip businesses such as Panasonic, Denso, Tsuzuki, Bodytech, Dinamic Oil, and others. Aside from Indian firms, we have firms from Japan, South Korea, France, Italy, and other countries.
How Many Businesses Have Operational Plants Within The Complex? Which Industries/Verticals Have Been Covered Thus Far?
For any greenfield integrated township to attract investors, some critical anchor enterprises must operate as ‘queen bees.’ We have lured nine big anchor companies to the project, all of which have begun operations. Aside from these, 15 more enterprises have begun operations, while 46 more are under construction. This figure is expected to rise month after month.
Having these significant anchor corporations has allowed us to build a strong ecosystem for the growth of MSME (micro, small, and medium enterprises) businesses in our park. MSMEs now make up the majority of our businesses.
While the Indian government and state governments encourage MSMEs, we are glad to announce that we have created a strong ecosystem for them to thrive in a planned, sustainable, and world-class setting.
What Is The Total Amount Of Money Invested In The State By These Companies?
Once operational, the total investment from 400 companies is projected to be in the area of Rs 9,000 crore, with direct employment of 51,000 people. We have nine international enterprises in the project out of 400, which have provided a significant amount of foreign direct investment in the country and state.
The ecosystem at MET City is quite dynamic, and we continue to attract more and more Indian and foreign enterprises, which will significantly expand potential investments and employment in the project and state.
What Is The Agreement And Investment With Indospace (India’s Largest Industrial Warehousing Platform)?
IndoSpace is now working on two projects with us. Project 1 is a greenfield logistics and industrial park on 150 acres that they have taken from us. Project 1 is fully developed and leased to a variety of businesses, including Reliance Retail.
Project 2 is a collaborative venture with us in MET City’s Sector 5. It is a 55-acre site, with MET City (METL) owning 26% and IndoSpace owning the remaining 74%. The project is currently under construction, with a total investment of roughly Rs. 400 crore projected by the project firm.
