Russian firm keen to invest Rs 1,000cr in Maha industrial city

Companies from Russia, China and Japan have evinced interest in investing Rs 1,250 crore in setting up their facilities at Aurangabad Industrial City (AURIC) in Maharashtra, a top government official said Sunday.

AURIC, located around 335 km from here in Central Maharashtra, is a planned and greenfield smart industrial city being developed across 10,000 acres as part of the Delhi- Mumbai Industrial Corridor (DMIC).

Russia's Novolipetsk Steel (NLMK), manufacturer of high-quality steel products, is keen on investing Rs 1,000 crore for setting up a unit at AURIC-Shendra, Maharashtra Industrial Development Corporation (MIDC) General Manager Gajanan Patil told PTI.

Patil is also the Joint Managing Director of Aurangabad Industrial Township Ltd (AITL), a special purpose vehicle between MIDC and DMIC, which is overseeing AURIC development.

NLMK is among Russia's largest steel companies.

"Representatives of NLMK Group from Russia recently met us and have shown willingness to invest Rs 1,000 crore at AURIC-Shendra. They have sought permission to carry out feasibility testing for setting up their plant," Patil said.

"Their plan is to set up the facility on 75 acres," the bureaucrat said. "We have assured them of all support."