AURIC looks to attract AP, TS investors

Hyderabad: Aurangabad Industrial Township Limited (AITL) on Wednesday held a roadshow in Hyderabad to attract investors from Telangana and Andhra Pradesh, for setting up of industries at the Aurangabad Industrial City (AURIC). The road show witnessed participation from 55 industrialists in the city.

The greenfield industrial smart city is expecting to garner an investment of Rs 70,000 crore in a period of five years, from global players. Hyosung Corporation, Fuji Silvertech from Japan, Caterpillar Group have already invested while other few companies from China, Russia, Korea are considering setting up of their business at AURIC.

These companies have brought in investment of Rs 6,000 crore, with Rs 3,600 crore coming in the last financial year. Besides, in the next 10years, employment of about three lakh is expected to be generated, Gajanan Patil, Joint Managing Director of AURIC, told the media here.

He further said that industries based in AURIC may generate around $11.6 billion through exports, in value, while industrial output would be $46.2 billion. The sectors they are looking forward to are food, textile andInformation Technology.

The smart city that is being developed on 10,000 acre, is promoted by AITL, a special purpose vehicle formed in partnership with DMICDC, an agency of the Govt of India and MIDC, an investment promotion arm of the state govt of Maharashtra.