Srei initiative Attivo Economic Zones (Attivo) and the Telangana Government have announced a new cooperation agreement to further accelerate industrial growth and socioeconomic development in Telangana at the recently held construction equipment expo Excon in Bengaluru.
The MoU was signed between Attivo and the Department of Industries & Commerce (I&C), Government of Telangana, in the presence of KT Rama Rao, Minister for Information Technology, Municipal Administration and Urban Development, I&C, Public Enterprises, Sugar, Mines and Geology, NRI Affairs, Government of Telangana; Jayesh Ranjan, Principal Secretary of I&C and Information Technology Departments, Government of Telangana; Sunil Kanoria, Vice Chairman, Srei; and Indranil Dasgupta, CEO, Attivo.
'Telangana is emerging as a preferred destination for the industry,' said Rao at the event. 'Our priority has been to ensure ease of doing business, and we will continue to support business ventures that have the potential to drive industrial growth and economic progress of the state.'
'We believe in driving economic growth through infrastructure development,' said Ranjan. 'And, Attivo's proposed park is a step in the right direction and will help us drive rapid industrialisation in the state.'
As per the MoU signed, Attivo will develop an infrastructure equipment manufacturing park in the National Investment and Manufacturing Zone near Zaheerabad in Telangana. Spread over 500 acre, the park will create a sustainable and comprehensive industrial zone of international standards. Most of the world's leading original equipment makers (OEMs) are expected to set up their units in the park, which has the potential to generate direct and indirect employment in excess of 10,000 over the next 10 years.
Speaking to CW, Kanoria said the proposed park would be the ideal location for all construction and mining equipment manufacturers as a plethora of road, irrigation and mining work is being awarded by the Telangana Government and most contractors and construction companies are based there.
He added, 'It makes great economic sense to set up the manufacturing base in the zone, which will be fully enabled from all infrastructure aspects.' Further, Dasgupta emphasised, 'Attivo's ability to deliver holistic infrastructure facilities has allowed our clients to set up units without incurring huge capital costs. We are confident that the infrastructure equipment manufacturing park will soon become one of the key engines of Telangana's economic progress.'
The industrial park will be well-connected with road and railway networks, allowing OEMs to connect and communicate with different markets across India.
- SERAPHINA D'SOUZA