Avaada Group To Set Up ₹10,000 Cr Green Industrial Campus In Hisar, Signs MoU

Avaada Group on Tuesday said it has inked an initial pact with Haryana Enterprises Promotion Centre to facilitate development of a Zero-CBAM Green Industrial Campus in Hisar entailing an investment of ₹10,000 crore.

The project has potential to generate over 5,000 employment opportunities, a company statement said.

The proposed 300-acre campus is envisioned as a next-generation green industrial ecosystem, powered by reliable, traceable and round-the-clock renewable energy, the company said.

It is designed to support industries seeking to decarbonise their operations, strengthen energy security and enhance their readiness for evolving global carbon and sustainability requirements, including the European Union’s Carbon Border Adjustment Mechanism (CBAM).

Under the MoU, the Haryana government, through Haryana Enterprises Promotion Centre (HEPC), will facilitate the development of the proposed campus as a state-supported Green Industrial / Zero-CBAM Industrial Park.

The facilitation will include support towards appropriate industrial-park status, exploration of a customised package of incentives, common infrastructure, connectivity and utilities, and expediting requisite statutory approvals through the state’s single-window mechanism.

The partnership will also focus on attracting anchor investors, technology partners and industrial participants to the proposed campus.

Avaada Group and the Haryana government will explore joint international investment roadshows across key markets, including Germany, France, Italy, the Netherlands, Belgium, Japan and South Korea, among others, to showcase investment opportunities in the proposed green industrial ecosystem.

The proposed campus seeks to bring together renewable energy, industrial infrastructure and green manufacturing within an integrated ecosystem.

Vineet Mittal, Chairman, Avaada Group, said, "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."