Nod to Centre's debt, equity share in ₹2,360 crore Zaheerabad Industrial Area project
The government has approved Centre's contribution, through National Industrial Corridor Development and Implementation Trust (NICDIT), consisting of ₹596 crore as equity and ₹655 crore towards debt, Union Minister of State for Commerce and Industry Jitin Prasada said, replying to a question from Member of Parliament Kadiyam Kavya.
The project, under the HNIC node located in Sangareddy district, has an activation area of 3,245 acres. A special purpose vehicle, NICDIT Zaheerabad Industrial Smart City, has been incorporated for the project and tendering works for selection of Project Management for New Cities (PMNC) has started, he said.
Responding to queries of Dr. Kavya on the Hyderabad-Nagpur and Hyderabad-Warangal industrial corridors, the Union Minister said that in August 2024, the Centre had approved Telangana government's proposal for development of Zaheerabad node as part of HNIC under National Industrial Corridor Development Programme (NICDP).
As part of the Hyderabad-Warangal Industrial Corridor (HWIC), Hyderabad Pharma City was initially identified for development. As the State government failed to confirm the project, NICDIT Board of Trustees on June 8, 2022, decided to drop the project.
Mr. Prasada said that based on the proposal of the State government, the Centre had granted final approval to the National Investment and Manufacturing Zone (NIMZ) in Sangareddy (formerly Medak) district on January 22, 2016, and Hyderabad Pharma City NIMZ in Rangareddy district on December 10, 2019.
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