Latest News | AURIC Bags Investment Worth Rs 350 Crore from Pharma Co

Aurangabad, Nov 18 (PTI) The Aurangabad Industrial City (AURIC) has bagged an investment of Rs 350 crore from pharma company ACG Universal Capsules and a land parcel of 20 acres has been handed over to the firm, a top official from Aurangabad Industrial Township Ltd (AITL) said on Thursday.

AURIC is industrial town set up at Shendra in Aurangabad under the project of the Delhi-Mumbai Industrial Corridor Project, and AITL is the project-implementing special purpose vehicle (SPV) formed by the government.

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While talking about the new investment, AITL Joint Managing Director Jitendra Kakuste told PTI, "We have allotted a plot of 20 acres as land parcel to ACG Universal Capsules Private Limited. The company has a plan to invest Rs 350 crore in the first phase."

"The company manufactures capsule covers and has a plant to manufacture 20 billion covers in a year. This project will provide direct employment to 450 people. The company will go into production in a period of one year," Kakuste added.

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Two more plots are allotted along with this.

"An extended plot of five acres has been given to a company who has already purchased land earlier. An agro equipment company, named Cropex, has been given a plot of one acre and they are planning to invest around Rs 5 crore," an official said.

Out of 2,200 acres land of the entire project in the Shendra node, 686 acres has been kept reserved for industrial purpose. Nearly 60 per cent of the land through 129 plots has been allotted as of now. A total of 17 companies have gone in production and 60 companies are under process of construction, an another official said. hrs hrs

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)