Live
- Assam only state to see dip in road accidents: CM Sarma
- MP BJP to celebrate former PM Vajpayee's birth anniversary on Dec 25
- Christmas Eve 2024: Heartwarming Messages To Share With Your Loved Ones
- PM Modi holds brainstorming session with economists in run-up to Budget
- “Telangana Ready to Support AI Technologies That Drive Social Impact,” says Special Chief Secy, Jayesh Ranjan at Woxsen University’s Future Tech Summit 2024
- Hero Motosports Team Rally Announces Squad For Dakar Rally 2025
- Two Men Found Dead In Parked Caravan In Kerala
- Mandhana moves closer to top spot in ODI, T20I rankings
- IND vs AUS Boxing Day Test 2024: Sam Konstas Debuts, Travis Head’s Fitness in Question
- Congress Challenges Election Rule Amendments In Supreme Court
AURIC looks to attract AP, TS investors
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).
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.
