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

Malaysian Tamils prepare to invest Rs. 200 crore in Nanguneri SEZ

Representatives of Global Organization of People of Indian Origin (GOPIO), who are scheduled to participate in the Global Investors Meet (GIM), to be held at Chennai in the second week of September, plan to bring a team of prospective investors from Malaysia to the AMRL Multiproduct Special Economic Zone, the State’s largest SEZ in Nanguneri near here after the meet.

“Since Tamil Nadu is all set to become a ‘Tiger Economy’, thanks to the conducive investment climate prevailing here now, our friends from Malaysia have planned to invest around Rs. 200 crore at AMRL Multiproduct SEZ. We have already weighed its potentiality and the growth prospects during our earlier visits.

The investments will happen very shortly after the GIM,” Selvarajoo Sundaram, chairman, GOPIO International, having his roots in Vellore, told The Hindu .

When a team from Tamil Nadu, including Industries Secretary, organised the ‘road show’ at Malaysia to popularise the GIM, the president of AMRL Nanguneri SEZ, Eshwar Rao met the GOPIO members and encouraged them to invest there.

To ascertain the potentiality of the industrial complex, the incentives being offered by the State and the Central governments to start units at SEZ, its advantages and infrastructure available there, a team of investors, led by Mr. Selvarajoo and GOPIO International’s Malaysia chapter president A. Ravendiran Arjunan, visited the sprawling 2,600 acre SEZ premises on a few occasions and are satisfied with the SEZ.

Since more than 85 per cent of the two million Indians in Malaysia are Tamils, still having strong cultural and religious bonds back home, the 26-year-old GOPIO, a not-for-profit organisation, encourages them to invest in Tamil Nadu to make it more vibrant.

The Malaysian investments will be made in electronic goods, doors and door frames, furniture manufacturing and social infrastructure.

“It will be a win-win situation for both the investors and Tamil Nadu, if the Malaysian investment proposals are cleared across the table as being done in Andhra Pradesh now,” he said.

Source: TheHindu.com

Logistics facility to come up at Nanguneri SEZ

Ahead of the Global Investors’ Meet to be held at Chennai next month, small and medium investors are coming forward to have their manufacturing units at AMRL Multi-Product Special Economic Zone at Nanguneri in the district as a company signed Memorandum of Understanding in the presence of Collector M. Karunakaran on Friday evening.

Speaking to reporters after the signing of MoU, Dr. Karunakaran said potential investors from various States were keen on setting up their manufacturing units in Tamil Nadu ahead of the Global Investors Meet to be held at Chennai on September 9 and 10.

In this line, Chennai-based Ashray Logistics India Private Limited that signed the MoU on Friday had proposed 

to have its integrated logistics warehousing solutions in 5 lakh square feet area on 24 acres at AMRL Multi-Product Special Economic Zone at Nanguneri on an outlay of Rs. 77.50 crore.

“This facility, for which the MoU was signed today, will give employment to 200 persons and will be ready within nine months from now,” Dr. Karunakaran said.

He also informed that Dubai-based Electromate Components Private Limited, manufacturing electrical conduits and other products and exporting the same mainly to the Middle East, was to commence its production from its Rs. 20 crore-factory in the SEZ, from September last week this year. “This unit will provide employment to sixty persons directly,” the Collector said.

A non-resident Indian’s South India Plywoods Private Limited, which was being set up on 2.40 acres in the SEZ on an outlay of Rs. 21 crore to manufacture plywood and doors, was expected commence its export from April 2016.

“Apart from these companies, we expect signing of good number of MoUs paving way for hefty investments to be made at AMRL Multiproduct SEZ during the Global Investors’ Meet,” Dr. Kaurnakaran said.

President of AMRL Multiproduct Special Economic Zone N. Eswar Rao and Director of Ashray Logistics India Private Limited Parashar Lohia signed the MoU.

Senior Manager of AMRL Multiproduct Special Economic Zone Devarajan and General Manager of District Industries Centre G. Gnanasekar were present on the occasion.

Source: TheHindu.com