Key Highlights
- Ramky Infrastructure subsidiary signs concession agreement with MIDC for a High-Tech Pharmaceutical Park in Maharashtra.
- The project will be developed at Dighi Port Industrial Area in Raigad district.
- The industrial park will span about 1000 hectares with integrated infrastructure.
- The project is estimated to cost around ₹3000 crore.
- The concession period for the project is 95 years including a 5 year construction phase.
- The park will include industrial zones, commercial zones, utilities, and common amenities.
Ramky Infrastructure Limited has announced that its wholly owned subsidiary, Maha Integrated Life Sciences City Limited (MILeS City), has executed a concession agreement with the Maharashtra Industrial Development Corporation (MIDC) for the development of a High-Tech Pharmaceutical Park in Maharashtra.
The project will be developed at the Dighi Port Industrial Area located in Mangaon and Roha taluks of Raigad district. The agreement was executed under a public private partnership model for the development, operation, maintenance, and management of the proposed industrial park.
According to the company, the concession period for the project is 95 years, which includes a construction period of five years. The development will cover approximately 1000 hectares and will be designed to support the life sciences and pharmaceutical sectors.
The planned Life Sciences City will include dedicated industrial zones, commercial areas, utilities, open spaces, road infrastructure, and common amenities. The project is expected to create an integrated ecosystem to support pharmaceutical and biotechnology companies looking to establish manufacturing and research facilities.
Ramky Infrastructure stated that the total estimated project cost is around ₹3000 crore. The company expects to generate revenue through land lease premiums, development charges, maintenance income from services, and operational income from utilities within the industrial park.
The company noted that the project is aimed at providing sustainable infrastructure solutions for the life sciences sector and allied industries. With this development, Ramky Infrastructure intends to strengthen its position in executing large scale integrated infrastructure projects for the pharmaceutical and biotechnology industries in India.