AURIC attracts investments of ₹3,600-cr

Aurangabad Industrial City (AURIC), one of India's first Greenfield Industrial Smart Cities along the Delhi-Mumbai Industrial Corridor (DMIC), has attracted a record investment of ₹3,600 crore as of 31 December 2018 from investors. Infrastructure packages of ₹7,947 crore has been approved by the Government to help AURIC offer high-value, sustainable infrastructure supporting long-term economic vitality, a high quality of life, and a knowledge-based ecosystem with breakthrough innovation and efficiency. Planned across an area of 10,000 acres in Maharashtra on the outskirts of Aurangabad, AURIC has allotted 50 plots comprising 507,164 sqm, creating 2,000 direct employment opportunities. Hyosung Corporation of South Korea, the largest global spandex producer, has committed to invest around ₹3,000 crore on 100 acres of land in AURIC. Several global companies from the USA, Europe, Russia, China, Japan and South Korea are also considering investing in AURIC. Other investors include Russia's Novolipetsk Steel (NLMK), manufacturer of high-quality steel products; Guangdong Baihe Medical Technology Co. of China; Fuji Silvertech - Japan's leading precast concrete manufacturer, and Skoda, Siemens, Bajaj, Johnson & Johnson, Crompton & Greaves, Perkins, Liebherr, Lupin, Endress + Hauser, Wockhardt and Endurance, among others.