New Delhi: Avaada Group has entered into a preliminary agreement with the Haryana Enterprises Promotion Centre to develop what it calls a Zero-CBAM Green Industrial Campus at Hisar. The investment attached to the project is Rs 10,000 crore. The company announced the memorandum of understanding on Tuesday.
Follow Energy Watch on X
The campus is proposed across 300 acres. Avaada said in a statement that the project has the potential to create more than 5,000 jobs.
Haryana will act through the Haryana Enterprises Promotion Centre (HEPC) to support the campus as a state-backed Green Industrial or Zero-CBAM Industrial Park.
That support covers several strands. HEPC is to help secure the appropriate industrial-park designation for the site. It will also examine a customised incentives package, assist with common infrastructure, connectivity and utilities, and move statutory clearances through the state's single-window route.
Avaada describes the site as a next-generation green industrial ecosystem running on renewable power that is, in the company's words, reliable, traceable and available round the clock.
The company said the campus is built for manufacturers trying to cut emissions from their operations. It also positions the site as a way for those manufacturers to shore up energy security and prepare for tightening carbon and sustainability rules abroad, the European Union's Carbon Border Adjustment Mechanism (CBAM) among them. Renewable generation, industrial infrastructure and green manufacturing are to sit within a single integrated setup, according to the company.
The two sides intend to bring in anchor investors, technology partners and industrial occupiers for the campus.
Avaada and the state government also plan joint investment roadshows overseas. Germany, France, Italy, the Netherlands, Belgium, Japan and South Korea are among the markets identified for those visits.
Follow Energy Watch on LinkedIN
Vineet Mittal, Chairman, Avaada Group, said, "Envisaged with an investment of Rs 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."
