The park will come up over 500 acres in the National Investment and Manufacturing Zone (NIMZ) near Zaheerabad town, according to the MoU signed by the company with Telangana government on Wednesday.
Telangana's Department of Industries & Commerce and Attivo, an initiative of Kanoria Foundation entity Srei, signed the MoU in Bengaluru in the presence of Telangana's Industries Minister K.T. Rama Rao, Srei Vice Chairman Sunil Kanoria and Attivo CEO Indranil Dasgupta.
According to a statement released here, the park to be formed in joint venture by Telangana government and Srei Infrastructure, will create a sustainable and comprehensive industrial zone of international standards.
Most of the world's leading original equipment makers are expected to set up their units in the park, which has a potential to generate direct and indirect employment in excess of 10,000 jobs over the next 10 years.
"Attivo's proposed park would be the most ideal location for all construction and mining equipment manufacturers as a plethora of road, irrigation and mining work is being awarded by the Government of Telangana and most of the contractors and construction companies are based there," said Kanoria.
Rama Rao said the park to be developed with work to play concept will have the facilities. He announced that five first anchor investors in the park will get additional incentives.
Stating that land acquisition for the park was completed, the minister said foundation stone for the facility would be laid soon.
The minister, who was in Bengaluru to attend EXCON 2017, an international construction equipment and construction technology trade fair, met representatives of various companies manufacturing infrastructure equipment.
He told them that Hyderabad is ideal location for their operations as the city is centrally located and the Telangana government had also launched several industry-friendly measures. He said with several infrastructure projects being developed in Telangana, the state was a major consumer of the equipment.
(This story has not been edited by Social News XYZ staff and is auto-generated from a syndicated feed.)
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