37 companies get land to set up units under DMIC project

As many as 37 companies, including South Korean conglomerate Hyosung Corporation and Micromax, have been allotted land to set up units under a node of the DMIC project, the Delhi Mumbai Industrial Corridor Development Corporation Ltd said.

In a statement, it said across DMIC projects where trunk infrastructure layout is progressing at a rapid pace, "37 companies have been allotted land, totalling about 130 acres, with the Shendra-Bidkin node, dubbed Aurangabad Industrial City (AURIC), in Maharashtra taking the lead".

It said the 100-acre land parcel for Hyosung Corporation to set up a Rs 3,000 crore manufacturing facility in Shendra marks the biggest land allocation in any DMIC project.

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"Hyosung, the world's leading manufacturer of spandex, is expanding its production in India which the company sees as a key market. In the first phase, which Hyosung plans to initiate by April 2018 with production to start by May 2019, the company expects to generate around 1,000 jobs," it added.

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It also said that electronics major Micromax is among the early investors in Integrated Industrial Township Greater Noida Limited (IITGNL), having acquired around 10 acres of land with planned investments to the tune of Rs 500 crore and employment for nearly 500 people.

Alkesh Sharma, CEO and MD, DMICDC said that across the DMIC, large, contiguous, litigation-free parcels of land are being offered to set up industries.