Mahindra Holidays to invest Rs 800 cr in TN
The company has signed an MOU with the Tamil Nadu government for the same, Mahindra Holidays & Resorts India Ltd (MHRIL) said in a statement.
NEW DELHI: Mahindra Holidays & Resorts India Ltd on Thursday said it will invest Rs 800 crore in Tamil Nadu to build three greenfield resorts over the next five to six years.
The company has signed an MOU with the Tamil Nadu government for the same, Mahindra Holidays & Resorts India Ltd (MHRIL) said in a statement.
It will directly generate employment opportunities for over 1,500 people, thereby contributing to the overall economy of the state, it added.
“With this significant investment, MHRIL will double its footprint in Tamil Nadu, with Club Mahindra already operating resorts in Ooty and Kodaikanal,” the company said. This would be the second-largest investment by MHRIL, following the Rs 1,000 crore investment in Uttarakhand last year.
These investments are part of the company’s expansion plans to increase room inventory from 5,000 to 10,000 by 2030, the statement said.
Further, MHRIL said as part of its commitment to sustainability and aim to achieve carbon neutrality by 2040, all the new resorts developed in Tamil Nadu will target to be “champions of net zero energy, water and waste, and in the process become role models for sustainable tourism in the state”.