1 week ago
Avaada Plans Rs 10,000-Crore Zero-CBAM Green Campus in Hisar
Avaada Group wants to build a large green industrial campus in Hisar, Haryana.
The campus would cover about 300 acres.
The company plans to invest around Rs 10,000 crore.
It could create more than 5,000 jobs.
Renewable energy would power the industries there.
The project is designed to help companies reduce pollution from their operations.
It may also help businesses prepare for international carbon rules, including the European Union’s CBAM.
Avaada and Haryana plan to attract investors and technology companies to the campus.
Avaada Group signed an MoU with the Haryana Enterprises Promotion Centre to develop a green industrial campus in Hisar.
The proposed Zero-CBAM campus would cover 300 acres and involve an investment of approximately Rs 10,000 crore.
The project could create more than 5,000 employment opportunities.
The campus is planned to use reliable, traceable and round-the-clock renewable energy.
Haryana will support infrastructure, utilities, connectivity, incentives and faster approvals through its single-window system.
- Who
- Avaada Group and the Haryana Enterprises Promotion Centre, which is coordinating with the Haryana government.
- What
- They signed an MoU to facilitate development of a 300-acre Zero-CBAM Green Industrial Campus.
- Where
- Hisar, Haryana, India.
- When
- The MoU was signed on Tuesday; the articles do not provide a calendar date.
- Why
- The campus is intended to support low-carbon manufacturing, renewable-energy use, energy security and preparation for global carbon and sustainability requirements, including the European Union’s Carbon Border Adjustment Mechanism.
Key facts
- Proposed investment
- Approximately Rs 10,000 crore
- Campus size
- 300 acres
- Potential employment
- More than 5,000 opportunities
- Energy model
- Reliable, traceable and round-the-clock renewable energy
- Government support
- Industrial-park status, possible customised incentives, common infrastructure, connectivity, utilities and faster statutory approvals
- Implementation interface
- The Haryana Enterprises Promotion Centre will coordinate with state authorities
- Planned investor outreach
- Avaada and Haryana will explore roadshows in Germany, France, Italy, the Netherlands, Belgium, Japan and South Korea
Quotes
Vineet Mittal
Chairman of Avaada Group
“Envisaged with an investment of `10,000 crore, the campus will bring together reliable, traceable and round-the-clock renewable energy with industrial infrastructure designed to support low-carbon and CBAM-ready manufacturing.”
financialexpress.com
“We believe this initiative can attract global investments and technology, create over 5,000 employment opportunities and catalyse a new generation of green industrial development in Haryana”
financialexpress.com
Sources
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