Two days after Nagpur airport was finally transferred to Maharashtra Airport Development Company (MADC), which is developing Mihan,
Indiabulls Real Estate Ltd (IREL) has announced that it would set up a 250 acre industrial park near Katol, 40 km from here.
IREL expects that the whole park would entail an investment of Rs 5,000 crore and is expected to provide employment to around 25,000 persons. IREL senior manager Pramod Rathod said that with a megaproject like Mihan coming up near Nagpur and power projects having total capacity of 7,000 to 8,000 MW coming up in Vidarbha in the three to five years, there is a huge scope for small and medium scale industries.
"Mihan and other power projects will require several ancillary industries. There is very little land available in Butibori industrial estate and rates are unaffordable for most industries. The waiting list for land at Butibori has crossed 500. MIDC is planning to acquire more land but according to our estimate it will take at least a year and a half. Hence, industrialists will have to set up their shop in some other locality and Katol is the ideal location. It is well-connected by road and rail. MLA Anil Deshmukh is doing his best for the project," he said.
Rathod said that at present the rates in Butibori MIDC is Rs 400 per square metre whereas IREL is planning to sell land at Katol for only Rs 75 per square metre and provide better facilities.
He said that Maharashtra Industries Development Corporation (MIDC) had already provided land to the Sepset Constructions, the Indiabulls company that would execute the project. MIDC is making arrangements for water. IREL had applied to MIDC to get approval for its industrial park.
Vice-president Abhimanyu Rathod said that IREL with help of concerned government agencies would make the following facilities available at the park - roads with capacity of bear industrial tonnage, power substation, water supply network, telecommunication facilities, street lighting, storm water drains and common effluent treatment park.
IREL would also construct a commercial facility centre (CFC) that would house banks, post office, insurance offices, hotels, restaurants, canteens, club house, transport offices, courier company offices, hardware and electric shops. A petrol pump would also be set up near the CFC.
IREL also proposed to build houses if there was a demand and some area had been reserved for it, Abhimanyu Rathod said.
He further said that industrialists could opt for open plots if they wanted to construct their factory as per their requirement. The company would also construct sheds and factories spread over a standard area of 10,000 square feet. Smaller factories spread over an area between 600 and 2,500 sq feet would also be constructed.
Indiabulls Real Estate Ltd (IREL) has announced that it would set up a 250 acre industrial park near Katol, 40 km from here.
IREL expects that the whole park would entail an investment of Rs 5,000 crore and is expected to provide employment to around 25,000 persons. IREL senior manager Pramod Rathod said that with a megaproject like Mihan coming up near Nagpur and power projects having total capacity of 7,000 to 8,000 MW coming up in Vidarbha in the three to five years, there is a huge scope for small and medium scale industries.
"Mihan and other power projects will require several ancillary industries. There is very little land available in Butibori industrial estate and rates are unaffordable for most industries. The waiting list for land at Butibori has crossed 500. MIDC is planning to acquire more land but according to our estimate it will take at least a year and a half. Hence, industrialists will have to set up their shop in some other locality and Katol is the ideal location. It is well-connected by road and rail. MLA Anil Deshmukh is doing his best for the project," he said.
Rathod said that at present the rates in Butibori MIDC is Rs 400 per square metre whereas IREL is planning to sell land at Katol for only Rs 75 per square metre and provide better facilities.
He said that Maharashtra Industries Development Corporation (MIDC) had already provided land to the Sepset Constructions, the Indiabulls company that would execute the project. MIDC is making arrangements for water. IREL had applied to MIDC to get approval for its industrial park.
Vice-president Abhimanyu Rathod said that IREL with help of concerned government agencies would make the following facilities available at the park - roads with capacity of bear industrial tonnage, power substation, water supply network, telecommunication facilities, street lighting, storm water drains and common effluent treatment park.
IREL would also construct a commercial facility centre (CFC) that would house banks, post office, insurance offices, hotels, restaurants, canteens, club house, transport offices, courier company offices, hardware and electric shops. A petrol pump would also be set up near the CFC.
IREL also proposed to build houses if there was a demand and some area had been reserved for it, Abhimanyu Rathod said.
He further said that industrialists could opt for open plots if they wanted to construct their factory as per their requirement. The company would also construct sheds and factories spread over a standard area of 10,000 square feet. Smaller factories spread over an area between 600 and 2,500 sq feet would also be constructed.