TDT Infra, part of the Rs 800-crore TDT Group, will develop a mega industrial park at Vadodara in Gujarat at an investment of Rs 250 crore.
It has acquired 200 acres and put in place basic infrastructure such as power, gas, and water and sewage connections besides road connectivity for the first phase covering 25 acres.
Three phases
Avinash Ladha, President, TDT Infra, said the project will be developed in three stages, with the second and third phase covering 75 acres and 100 acres respectively. The company intends to invest Rs 100 crore in the first and second phase.
“Despite the economic slowdown we have received good response from engineering, electrical and auto sectors. Foreign ancillary suppliers are following large multi-nationals which are investing big-time in Gujarat,” he said. TBEA Energy (India), a subsidiary of China’s third largest transformer company, is setting up ‘TBEA Green Energy Park’ in Gujarat, with an investment of Rs 2,500 crore.
Investments in gujarat
The country’s largest passenger car maker Maruti Suzuki India, Ford India, US-based pharma giant Abbott, Israel’s Teva, and FMCG majors Amway, Colgate and Nestle are planning to set up base in the State.
TDT Infra has constructed a ready-to-use factory shed on 1 lakh sq feet (about 2.30 acres) exclusively for small and medium enterprises.
“The subsidy of Rs 10 crore provided by the Gujarat Government helped us set up infrastructure in industrial parks before we started marketing the project,” he said.
Free hold land
The company intends to follow a housing society model (freehold land), wherein it will form an association after completing the project and transfer the ownership of land to the association.
The association, in turn, will issue share certificates proportionate to the area owned by an industry house. The shares confirm the ownership of the land by the investor.
TDT Infra will maintain the basic infrastructure for four years.
With the smallest piece of land available at 5,000 sq ft (about 0.11 of an acre), even an SME with a project proposal of Rs 40-50 lakh can set up a unit in the Park, said Ladha.
At a conservative estimate, the TDT Mega Industrial Park will generate revenues of Rs 5,000 crore and provide employment to over 10,000 people, he said.