Now Reading: Avaada signs MoU with Haryana for Rs 10,000 crore green campus
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Avaada signs MoU with Haryana for Rs 10,000 crore green campus
Avaada Group has signed a Memorandum of Understanding with the Haryana Enterprises Promotion Centre to set up a 300-acre Zero-CBAM Green Industrial Campus in Hisar. The proposed investment is around Rs 10,000…
Avaada Group has signed a Memorandum of Understanding with the Haryana Enterprises Promotion Centre to set up a 300-acre Zero-CBAM Green Industrial Campus in Hisar. The proposed investment is around Rs 10,000 crore and is expected to generate more than 5,000 jobs.
The campus will run on round-the-clock renewable energy and is designed to help industries meet global carbon standards, including the European Union's Carbon Border Adjustment Mechanism. The Haryana government will support the project with incentives, infrastructure, and fast-track approvals through its single-window system.
Avaada and the state will hold joint investment roadshows in Germany, France, Italy, the Netherlands, Belgium, Japan, and South Korea to attract anchor investors and technology partners.
Indian Opinion Analysis
The Zero-CBAM concept is still untested at scale in India. Haryana has been competing with Gujarat and Maharashtra for green industrial investments, and the Hisar region offers cheaper land and proximity to the Delhi-Mumbai Industrial Corridor. The 5,000 jobs figure will depend on how many export-oriented manufacturers commit to the campus, since CBAM compliance only matters for goods sold into the EU. Under Haryana's industrial policy, the state's single-window clearance mechanism typically takes 60-90 days for projects of this size. The first investment roadshow is expected in early 2026, and any firm construction timeline will depend on anchor commitments secured through those roadshows.
Source: thehindubusinessline.com
This brief was synthesised by AI from the source linked above.
