Land allotment paves way for big anchor investors at DMICDC- Greater Noida
With land allocation to first three companies, work will now commence in full swing for one of the most ambitious infrastructure projects in India, the Delhi Mumbai Industrial Corridor (DMIC) Integrated Industrial Township Greater Noida.
The three companies, namely Haier Appliances India, Forme Trading and Satkriti Infotainment, were allotted land for setting up a manufacturing unit. The combined investment of these three companies is pegged at Rs 3,404 crore. Moreover, the huge investment will open doors for many job seekers, as over 12,500 employment opportunities will be created.
Haier Appliances India, consumer electronics and home appliances company, has been allotted 5,00,572 sq mtr (123.7 acre) of land in the township for setting up manufacturing facilities. The company will make an investment of Rs 3,069 crore towards the facility.
Forme Trading has been allotted 14,232 sq mtr (3.5 acre) land parcel and Satkriti Infotainment, a sister concern of Fenda Audio India, was allocated 39,602 sq mtr (9.8 acre) of land for setting up their manufacturing units. Both the companies will make an investment of Rs 100 crore and Rs 235 crore respectively, towards the expansion.
While Forme Trading will set up a new mobile phone manufacturing unit, Satkriti Infotainment will establish a consumer appliances manufacturing unit at Integrated Industrial Township Greater Noida (IITGN). More than 2,300 direct and 6,000 indirect jobs will be created.
The total project covers an area of 750 acre, of which around 400 acre will be available for industrial use. The company is still in the process of getting applications from potential investors to lease out land. A host of big companies have expressed interest for land allotment for setting up their units in this industrial corridor.
Micromax Informatics has formally applied for five ha of land, while LG Electronics has evinced interest in acquiring 10 ha for setting up units.
The Integrated Industrial Township at Greater Noida is the first smart industrial city being developed in Uttar Pradesh under Delhi Mumbai Industrial Corridor. The township is being developed through a special purpose vehicle (SPV) company, the DMIC Integrated Industrial Township Greater Noida.
The main project components of the Integrated Industrial Township include sectors like Hi-tech, Bio-tech, R&D and Knowledge Services. It will support research and development in key sectors like telecom, electronics, automobile, food, pharmaceutical, healthcare, and defence research sector. This will give a boost to new product development, software development, auto design, drug design and pharmaceuticals, hardware and product design.
The other key components within the Integrated Industrial Township include commercial, residential, research, recreation, office and administration uses.
The township will act as a magnet to promote R&D activities, industrial and manufacturing activities in the Dadri-Noida-Ghaziabad Investment Region (DNGIR). DMIC which is spread across six states is intended to be developed as a global manufacturing and trading hub.