Mahindra Group which announced its foray into industrial clusters has unveiled its first project. Located at Ponneri in the northern part of Chennai, the Mahindra Industrial Park Chennai Ltd (MIPCL), is a 60:40 joint venture between Mahindra World City Developers Ltd (MWCDL), a subsidiary of Mahindra Lifespace Developers and Sumitomo Corporation of Japan with plug-and-play infrastructure and environment-friendly features. Both partners have committed an investment of Rs. 1,000 crore for developing the Chennai project under the brand name ORIGINS. Phase 1 of the project spread over 300 acres is ready for occupation. It was formally inaugurated by Kenji Hiramatsu, Ambassador of Japan to India. Two companies have already signed up for space in ORIGINS, Chennai. Yanmar Group, a leading Japanese manufacturer of diesel engines for marine applications has committed to invest Rs 500 crore over a period of time in the industrial cluster. The industrial cluster has proximity to Chennai Port, Ennore Port and Kattupalli Port – all within 30-km radius. Mahindra Lifespace Developers plans to develop industrial clusters under ORIGINS across the country. The company is developing one near Ahmedabad.