Attivo Economic Zones Private Limited (“Attivo”), an initiative of Kanoria Foundation entity Srei, and the Government of Telanganatoday announced a new cooperation agreement to further accelerate industrial growth and socio-economic development in Telangana.
The Memorandum of Understanding (“MoU”) was signed between Attivo and the Department of Industries & Commerce (“I&C”), Government of Telanganain 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.
The MoU envisages Attivo to 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 in excess of 10,000over the next 10 years.
The industrial park, located within two hours of driving distance from the centre of Hyderabad, will be well-connected with road and railway networks, allowing 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.
Commenting on the development, Mr. Sunil Kanoria, Vice Chairman, Srei, said: “Attivo’s proposed park would be the most ideal location for all construction and mining equipment manufacturers as a plethora of road, irrigation and mining work is 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 be fully enabled from all infrastructure aspect. It would be the most ideal location for all equipment manufacturers.”
Mr. Indranil Dasgupta, CEO, Attivo, added: “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 have 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, Hon’ble Minister for Information Technology, Municipal Administration and Urban Development, I&C, Public Enterprises, Sugar, Mines and Geology, NRI Affairs, Government of Telangana, added: “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.”
Mr. Jayesh Ranjan, Principal Secretary of I&C and Information Technology departments of Government of Telangana, said: “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 Economic Zones Private Limited (“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 acres multi-product SEZ in Tirunelveli district in southern part of Tamil Nadu. Attivo is also actively exploring opportunities to develop, acquire and market similar projects in states like Gujarat, Maharashtra and West Bengal.
Srei Infrastructure Finance Limited (“Srei”), a Kanoria Foundation entity, is one of India’s largest holistic infrastructure institutions, constantly and consistently delivering innovative solutions in the infrastructure sector. The company has been playing a significant role in nation-building for over two-and-a-half decades, both in urban and rural India. Srei’s businesses include Infrastructure Project Finance, Advisory and Development, Infrastructure Equipment Finance, Alternative Investment Funds, Capital Markets and Insurance Broking. Srei is headquartered in Kolkata and has presence across India.