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AURIC to attract an investment of Rs 600 billion from global players

2019-05-10

The greenfield industrial smart city, Aurangabad Industrial Township (AURIC) is reportedly attracting exporters and industrialists to set up their facilities there.

The city highlights the features of a smart city and is expected to attract an investment of Rs 600-700 billion from global players. Also, this is expected to generate lakhs of employment opportunities. During calendar year 2018, AURIC has reportedly attracted an investment of Rs 36 billion. Also, it has 52 plots, and infrastructure packages worth Rs 79.47 billion have been approved by the Centre to facilitate sustainable infrastructure.

In the Marathwada region, as a part of the Delhi-Mumbai Industrial Corridor (DMIC), the industrial township of AURIC will be developed on 10,000 acre. It is promoted by Aurangabad Industrial Township, a special purpose vehicle and partnership between DMICDC, an agency of the Government of India, and MIDC, the investment promotion and facilitation arm of the state government.

Reports suggest that investors setting up facilities in the city include Hyosung Corporation of South Korea, which is one of the largest global spandex producer. That said, several global companies from the US, Europe, Russia, China, Japan and South Korea are also considering investments in AURIC.

Besides a rail and highway network that connects the new city to major cities in India, AURIC is located 15 minutes away from the Aurangabad International Airport and provides direct flights to Mumbai, Delhi, Hyderabad and other destinations. Also, the Jawaharlal Nehru Port Trust?s dry port and container terminal at Jalna is located 40 km away from the city.