An infrastructure equipment manufacturing park on 500 acres is to be developed by Attivo Economic Zones Pvt Ltd in the National Investment and Manufacturing Zone (NIMZ), near Zaheerabad.
Attivo, which is a Srei initiative, on Wednesday signed a memorandum of understanding for the proposed facility, with the State Department of Industries and Commerce in the presence of Industries and IT Minister K.T. Rama Rao.
The park will create a sustainable and comprehensive industrial zone of international standards. Some of the world’s leading original equipment makers are expected to set up their units in the park, which has a potential to generate direct and indirect employment in excess of 10,000 over the next 10 years, a release on the MoU signing in Bengaluru said.
The cooperation agreement would further accelerate industrial growth and socio-economic development in Telangana. The park, to come up 116 km from Hyderabad, will be well-connected with road and railway networks, allowing the OEMs to connect and communicate with different markets across India. This will be complemented with assured water supply, world-class telecommunication infrastructure and availability of skilled and employable manpower, the release said.
The Minister said Telangana is emerging as a preferred destination for industry. “Our priority has been to ensure ease of doing business and we will continue to support business ventures, which have the potential to drive industrial growth and economic progress of the State,” he said.
