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AURIC City sees a record Rs. 3,600 cr investment, to create 3 lakh jobs

Tuesday, January 15, 2019

Aurangabad Industrial City (AURIC), one of the India's first Greenfield Industrial Smart Cities along the Delhi-Mumbai Industrial Corridor (DMIC), has attracted a record investment of Rs. 3,600 crore (Rs. 36 billion) as of 31 December 2018 from investors. Planned to perfection across an area of 10,000 acres in Maharashtra State (on the outskirts of Aurangabad), AURIC has allotted 50 plots comprising 507,164 sq. mt. thereby creating 2,000 direct employment opportunities.

Infrastructure packages of Rs. 7,947 crore (Rs. 79.47 bn) has been approved by the Government of India to help AURIC offer high-value, sustainable infrastructure that will support long-term economic vitality, a high quality of life, and a knowledge-based ecosystem with breakthrough innovation and efficiency.

Gajanan Patil, Jt. MD, Aurangabad Industrial Township Ltd. (AITL), said, “The first phase of AURIC will be completed by 2019. AURIC is expected to make Aurangabad as a major manufacturing hub, which is likely to create about 3,00,000 new jobs and thus attract skilled labor. About 3,00,000 people are expected to reside in a top class infrastructure once the city is fully developed. An environment friendly city is being planned with the help of modern information and communication technologies (ICT). AURIC will make Maharashtra the most preferred investment destination in India.”

Hyosung Corporation of South Korea, the largest global spandex producer, is committed to invest around Rs. 3,000 crore (Rs. 30 bn) for 100 acres of land in AURIC. Several global companies from the US, Europe, Russia, China, Japan and South Korea have also been considering investments in AURIC.

This new integrated industrial township will be a congregation of office spaces, residences, hotels, large & small format retail, hospitals, schools, parks, entertainment hubs etc.

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