Aurangabad Industrial City attracts Rs. 3,600 crore investment.

The Aurangabad Industrial City (AURIC), which is being developed as a greenfield industrial site along the Delhi-Mumbai Industrial Corridor, has attracted an investment of Rs. 3,600 crore, a senior official told media persons recently.

AURIC was created as an SPV between Delhi Mumbai Industrial Corridor Development Corporation (DMICDC) and Maharashtra Industrial Development Corporation (MIDC).

The SPV was formed in December 2014 and it was named Aurangabad Industrial Township Ltd (AITL) but it was branded as AURIC in 2016. MIDC is a Maharashtra government arm for developing areas in the State.

Joint Managing Director of AITL Gajanan Patil said that the project is spread over an area of 10,000 acres. In the first phase, which is still under way, AURIC has allotted 50 land parcels comprising 507,164 sq mt, which has the potential to create 2,000 direct jobs. South Korean company Hyosung Corporation, which is the largest global spandex producer, has already committed Rs. 3,000-crore investment.

Several global companies such as Novolipetsk Steel of Russia, which manufactures high-quality steel products, Guangdong Baihe Medical Technology of China, Fuji Silvertech, which is Japan’s leading precast concrete manufacturing company have also shown interest in setting up manufacturing units at AURIC, Patil said.

A senior MIDC official on the condition of anonymity said that talks are also underway with Lockheed Martin Corp for setting an aeronautical parts manufacturing at AURIC, the official said.

Infrastructure funding of Rs. 7,947 crore has already been approved by the Government of India to help AURIC develop global standard infrastructure at the site.

Patil added that in the first phase of AURIC would be completed by end of 2019 and second phase by 2022, which is expected to make Aurangabad a major manufacturing hub create three lakh new jobs.

HBL