MIDC plans Rs 2000 cr investment

MUMBAI, April 28: Maharashtra Industrial Development Corporation (MIDC) is planning to invest Rs 2,000 crore in the next three years to set ...

MUMBAI, April 28: Maharashtra Industrial Development Corporation (MIDC) is planning to invest Rs 2,000 crore in the next three years to set up nine new industrial parks. The corporation has already raised Rs 350 crore from the Small Industrial Development Bank of India (Sidbi), while it plans to float a Rs 400-crore bond issue shortly to fund the projects.

The projects include five-star industrial estates in nine locations costing Rs 800 crore, a millennium industrial park at Mahape, Navi Mumbai, with an investment of Rs 250 crore, a Rs 200 crore export promotion zone at Seepz, a Rs 250 crore chemical effluent treatment plant and river purification scheme, and a Rs 150 crore development plan for Ranjangaon industrial estate, besides other small projects.

State industries minister Leeladhar Dake said here that the MIDC’s has already invested Rs 2,000 crore during the last three years.

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Dake said the proposed millennium industrial park would be developed on a 1.7 lakh sq m of land in the electronic zone inNavi Mumbai where 1,362 industrial modules, especially designed to meet software needs, light engineering, garments and service sector, would be constructed. A software complex to meet the growing needs of exporters would be developed on 12 acres adjoining the Seepz, in Mumbai.

Dake, who is also the Chairman of MIDC, said linking all 29 districts with Mumbai was one of the major priorities for the MIDC. He added that MIDC plans to build 10 airstrips in the next 18 months with an investment of Rs 50 crore. MIDC has already constructed airports at Baramati, Kolhapur, Yavatmal and Ratnagiri. Attention would be paid to the development of airstrips in the tribal areas like Dhulia, Akola and Nanded, he added.

MIDC also plans to develop an auto park in association with the Auto Components Manufacturing Association (Acma) on 500 hectares at Talegaon in Pune district.

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