Ramky Group is setting up a multiproduct industrial park in Nalgonda district of Andhra Pradesh with an investment of Rs 1,000 crore, a top official of the city based infrastructure major said.
“It is similar to Pharma city (in Visakhapatnam). However, it will have multi products instead of one single product. It required an investment of Rs 1,000 crore and the project has the capacity to attract investments to the tune of Rs 30,000 crore,” Ramky MD, Mr Goutham Reddy, told PTI.
“We may raise Rs 90 crore as debt and most of the investment will come from internal accruals,” he added.
Currently the project proposal is with the Ministry of Environment and Forest for clearance, Mr Reddy said.
Ramky Group signed an MoU with Government of Andhra Pradesh during Partnership summit held earlier this year to set up Ramky Multiproduct Industrial Park.
According to the report submitted to the MoEF, the total land of 4,000 acres has been proposed to develop the industrial park in two phased (of 2,000 acres each).
Industrial segments like pharma and bio—tech industry, textile and garmenting, non classified mixed industries, knowledge and speciality chemicals, food processing and 300 MW (multi fuel) thermal power plant are proposed in the park.
Around 30 per cent of total area will be earmarked including 20 percent for industrial segments and 10 per cent for residential, commercial and roads including boundary of the park.
The MoEF ordered the company to conduct a public hearing and submit Environmental Management Plan.
“Public hearing to be conducted for the project as per provisions of Environmental Impact Assessment Notification, 2006 and the issues raised by the public should be addressed in the Environmental Management Plan,” the Ministry said in its comments.
Mr Reddy said it is expected to complete the phase—I in 2—3 years and public hearing will be conducted in three months’ time as consultants are working on that.