The News Scroll 17 May 2019  Last Updated at 5:35 pm | Source: PTI

Industrial city AURIC eyes investment worth Rs 70,000 cr over 12 yrs

Industrial city AURIC eyes investment worth Rs 70,000 cr over 12 yrs
outlookindia.com
1970-01-01T05:30:00+0530

New Delhi, May 17 Aurangabad Industrial City (AURIC) in Maharashtra is looking to attract investments of up to Rs 70,000 crore over the next 12 years, which can create over 1.5 lakh jobs, its joint managing director Gajanan Patil said Friday.

Patil was speaking at a road show event organised here to interact with investors and apprise them about the business and growth opportunities at the 10,000 acre industrial city near Aurangabad.

AURIC is a special purpose vehicle of Delhi-Mumbai Industrial Corridor Development Corporation (DMICDC) and Maharashtra Industrial Development Corporation (MIDC).

"AURIC is a well-planned greenfield smart industrial city over an area of 10,000 acres in Maharashtra as a part of Delhi–Mumbai Industrial Corridor (DMIC). About 52 industrial plots have been allotted.

"Two mega projects, one is of about Rs 200 crore, and 11 SME units have already started their production there. The city is ready for investors," he told reporters on the sidelines of the event.

AURIC is eyeing investments in the range of Rs 60,000-70,000 crore from domestic as well as foreign investors for setting up their units, he said, adding that this can lead to creation of over 1.5 lakh jobs.

There are tremendous business opportunities for investors in AURIC and companies can invest in areas like back offices, manufacturing units, equipment assembling units, food packaging units, sales office, among others, he said.

The city is strategically located at a distance of 15 minutes from the Aurangabad International Airport and 40 km from Jawaharlal Nehru Port Trust's dry port and container terminal at Jalna, he added.

"The entire land has been acquired under Maharashtra Industrial Development Act from farmers/land owners on consent basis, hence there will be no land issue for the investors," he said.

While 60 per cent of the total land in AURIC is to be used for industrial purpose, 40 per cent is for residential, commercial, institutions, open spaces and social-cultural amenities, he added. ABI RVK RVK


Disclaimer :- This story has not been edited by Outlook staff and is auto-generated from news agency feeds.
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