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MIDC, IL&FS woo AP pharma entrepreneurs

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Sops offered at Nanded pharma SEZ

`The SEZ will offer globally competitive duty-free environment along with hassle-free operational freedom for export with minimum formalities.'

Hyderabad , Oct 30

Maharashtra Industrial Development Corporation (MIDC) and IL&FS, which are jointly developing four special economic zones (SEZs) in Maharashtra, have appealed to the pharmaceutical entrepreneurs of Andhra Pradesh to set up units at the Nanded Pharmaceuticals SEZ coming up at Krushnoor Industrial Estate in Nanded district.

Maharashtra Industries and Mines Minister Mr Ashok Shankarrao Chavan, who was in town on Monday to interact with AP-based pharma entrepreneurs, said that the new SEZ would come up over 150 hectares at an investment of Rs 300 crore and offer several incentives to entrepreneurs.

According to him, MIDC is investing heavily in improving infrastructure facilities at Nanded, about 250 km from Hyderabad, in key areas such as roads and water.

The proposed SEZ will offer globally competitive duty-free environment along with hassle-free operational freedom for export with minimum formalities, he said.

Mr Chavan expects Nanded city to receive investments in the range of Rs 2,500 crore once work on infrastructure improvement is completed.

According to him, given the proximity of Nanded to Hyderabad, effective linkage between the two cities would go a long way in trans-shipment of products.

The Minister said that he plans to meet Chief Minister Dr Y.S. Rajasekhara Reddy to discuss the proposal for four-laning of the Dichpally-Nanded highway, among other issues.

Stating that Maharashtra is keen to work in close proximity with Andhra Pradesh for mutual benefit, Mr Chavan said: "The whole exercise is not to compete with AP but to be complementary."

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