Attivo signs MoU with Telangana Govt to set up infrastructure equipment manufacturing park

Attivo Economic Zones Private Limited, an initiative of Kanoria Foundation entity Srei, and the Government of Telangana has announced a 50:50 JV to accelerate industrial growth and socio-economic development in Telangana. The industrial park, located near Hyderabad, will be well-connected with road and railway networks, allowing OEMs to connect and communicate with different markets across India. It will have assured water supply, world-class telecommunication infrastructure, and availability of skilled and employable manpower.

The MoU was signed between Attivo and the Department of Industries & Commerce (I&C), Government of Telangana, in the presence of Shri. K.T. Rama Rao, Hon’ble Minister for Information Technology, Municipal Administration and Urban Development, I&C, Public Enterprises, Sugar, Mines and Geology, NRI Affairs, Government of Telangana; Mr.Jayesh Ranjan, Principal Secretary of I&C and Information Technology departments of Government of Telangana; Mr. Sunil Kanoria, Vice Chairman, Srei; and Mr. Indranil Dasgupta, CEO, Attivo.

As per the agreement, Attivo will develop an infrastructure equipment manufacturing park in the National Investment and Manufacturing Zone (NIMZ) near Zaheerabad town in Telangana. Spread over 500 acres, 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 a potential to generate direct and indirect employment of over 10,000 in the next 10 years.

Commenting on the development, Mr. Sunil Kanoria, Vice Chairman, Srei, said, “Attivo’s proposed park will be the most ideal location for all construction and mining equipment manufacturers in view of the plethora of road, irrigation and mining work being awarded by the Government of Telangana, and most of the contractors and construction companies are based there. It makes great economic sense to set up the manufacturing base in the zone, which will meet all infrastructure requirements. The park has generated instant interest from major CE companies and we have identified three anchor clients already.”

Mr. Indranil Dasgupta, CEO, Attivo, commented, “We are delighted to be a partner in Telangana’s progress. Attivo has an experienced team of professionals who have successfully developed, managed and marketed industrial parks and SEZs across India. Our 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.”

Shri. K.T. Rama Rao said, “The setting up of the first OEM park in Hyderabad augurs well for the CE industry. Ancillary industries, including skilled manpower and employment generation will also benefit as the park will facilitate and support a comprehensive eco-system. Telangana is emerging as a preferred destination for industries, and we will continue to support business ventures, which have the potential to drive industrial growth and the economic progress of the state.”

Mr. Jayesh Ranjan added, “We believe in driving economic growth through infrastructure development. Attivo’s proposed park is a step in the right direction and will help us drive rapid industrialisation in the state.”

Attivo, a Srei initiative, is in the business of developing, managing and marketing industrial parks, economic zones, SEZs and smart cities. The company is responsible for marketing a 2,518-acre multi-product SEZ in Tirunelveli district in Tamil Nadu, and is exploring similar opportunities in Gujarat, Maharashtra, and West Bengal.

Kolkata-based Srei Infrastructure Finance Limited, a Kanoria Foundation entity, is involved in Infrastructure Project Finance, Advisory and Development, Infrastructure Equipment Finance, Alternative Investment Funds, Capital Markets and Insurance Broking.

NBM&CW January 2018

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