Naguneri SEZ Set to Receive Fresh Impetus From Global Investors' Meet

Often called Tamil Nadu’s first Special Economic Zone (SEZ), Nanguneri’s Multi-Product SEZ which has been struggling since inception will get an added impetus from the Global Investors Meet. According to the SEZ officials, the zone has already got 25 companies setting up shop in the zone and a few big names will be signing MoUs at the GIM for projects at the site.

Indranil Dasgupta, CEO of Attivo Economic Zone Pvt Ltd, which is promoting the SEZ, said that some big projects are set to come up in the zone, including a major pharmaceutical/FMCG player, a major hotel, an electronics manufacturer and Ashray Logistics - one of the largest logistics companies in the region. “100 acres of land have already been taken up and we feel we are in the perfect place to see the zone take off in a big way,” he said to the Express.

According to sources, the pharmaceutical company in question is the large FMCG major, Dabur Group, which is in the process of setting up an activated carbon manufacturing unit in the zone. More than 10 acres have been allocated to the company for the same. Hansa Green, a lighting company has also taken up space in the SEZ for a manufacturing unit. While the electronics firm remains unnamed, sources have said that it will work as a contract manufacturer and has already been allotted 5 acres in the SEZ for their unit.

Source: NewIndianExpress.com

Nanguneri SEZ attracts four more investors

The district, which has been set an industrial investment target of Rs. 250 crore before the Global Investors’ Meet to be held in Chennai on September 9 and 10, crossed Rs. 302 crore on Friday as four more Memoranda of Understanding were signed for investments to be made at AMRL Multi-Product Special Economic Zone.

In the presence of Collector M. Karunakaran and President of AMRL Multi-Product Special Economic Zone N. Eshwar Rao, MoUs for two service sector and as many manufacturing sector units were signed at the Collectorate.

As per these MoUs, a manufacturing unit, to be established on an outlay of Rs. 20 crore, would manufacture spares and batteries for laptops and laptop assembly would be done and this unit would give direct employment to 100 persons. Another company, to be established on an outlay of Rs. 12 crore, would manufacture electronic safety equipments and provide employment to 100 persons.

“A leading hotel having its unit on the East Coast Road near Chennai will establish its unit on the SEZ premises at a cost of Rs. 3 crore and a hospital for the benefit of the people working in the SEZ will be constructed on an outlay of Rs. 7.70 crore. A few more projects are on the pipeline,” Dr. Karunakaran said.

Assurance

The Collector, while assuring the investors coming forward to establish their units at the SEZ, of all help, said the electronic manufacturing units would get 50 per cent investment subsidy as the entire district had been declared as ‘Electronic Cluster’ by the Union Government.

Indranil Dasgupta, Chief Executive Officer (Industrial Zones) of Srei Infrastructure Finance Limited, which is funding the infrastructure development in the SEZ and Parashar Lohia, Director of Chennai-based Ashray Logistics India Private Limited, which has proposed to have its integrated logistics warehousing solutions on 5 lakh square feet on 24 acres at SEZ at Nanguneri on an outlay of Rs. 77.50 crore were present.

Source: TheHindu.com

Srei Infra's Attivo acquired AMRL Hitech City, a multi-product Special Economic Zone at Nanguneri in Tamil Nadu

Attivo Economic Zones, part of Kolkata-based Srei Infrastructure Finance and in the business of developing managing and marketing industrial parks, has readied projects worth Rs 3,000 crore. The company plans to raise Rs 1,000 crore equity to support these.

Attivo has also acquired AMRL Hitech City, a multi-product Special Economic Zone (SEZ) at Nanguneri in Tamil Nadu.

The AMRL Hitech City, is a multi-product SEZ at Nanguneri in southern Tamil Nadu. It was financed by Srei and operated by Attivo. The original promoter was AMR Group. The process of getting this SEZ operational started in 2013 and relevant permissions from the Centre came in early 2015. Further discussion is on with the government of Tamil Nadu to finalise the structure, said Indranil Dasgupta, chief executive officer of Attivo.

The SEZ already has around 25 customers, including Dabur and Hansa Green, and attracted investment of Rs 400-500 crore. The project area is around 2,500 acres, of which 2,000 acres is for the industrial zone. the rest is for the residential township and commercial activities. The company has invested Rs 250-300 crore in this project, and plans to invest another Rs 2,000 crore over the next 10 years.

Dasgupta said 100 acres had been leased out to a little over 25 customers. It has got enquiries for another 800-900 acres. The target sectors include electronics, defence, engineering, automobiles and auto components.

Attivo also plans to set up an integrated education and services SEZ at Alibaug, Maharashtra, on 350 acres. The project will be launched in the next two years and Rs 250 crore has been invested already. Another Rs 1,000-1,200 crore is planned over the next seven-odd years. The target sectors include financial services, information technology, biotech, education and health.

Attivo has also joined hands with The Assam Company to promote a petrochemical economic zone, not an SEZ, at Bharuch, Gujarat. The agreement is for marketing by Attivo; later, the partner will consider taking an equity stake, said Dasgupta. The 700-acre project is ready for sale.

In its home state of West Bengal, the company is developing an automobile and engineering industrial park at Kharagpur, on 300 acres.

For all these, the promoters have infused Rs 500 crore of funds in Attivo. It is open to equity dilution.

Attivo is also exploring opportunities to develop or acquire SEZs, economic zones or industrial parks in Andhra Pradesh, Madhya Pradesh and Rajasthan, said Dasgupta. He says he's optimistic about the future, as the central government wants to make Indian manufacturing competitive. He pointed to recent policy moves in this regard.

Source: Business-Standard.com