The Hindu : Business : MIDC, IDFC sign pact for 4 projects

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Friday, Jan 12, 2007
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MIDC, IDFC sign pact for 4 projects

Staff Correspondent

Will involve Rs. 6,000 cr. investment

MUMBAI: The Maharashtra Industrial Development Corporation (MIDC) on Thursday signed four agreements with the India Infrastructure Initiative (III) which is jointly promoted by Infrastructure Development Finance Company (IDFC) and Feedback Ventures. As per the agreement, III will undertake project preparation and partner selection for four public-private partnership (PPP) projects in Maharashtra.

The four projects are: an airport at Sindhudurg, a textile special economic zone (SEZ) at Kolhapur, a power SEZ at Chandrapur and a power SEZ at Raigad.

"The four projects will help in regional development of the State, with both Konkan and Vidarbha regions benefiting through better connectivity and power,'' Ashok Chavan, Minister of Industries, Government of Maharashtra, said, while addressing a press conference here.

The projects are expected to see nearly Rs. 6,000 crore of new investment in the State.

The textile SEZ at Kagal in Kolhapur will cover 104 hectares, and an investment of Rs. 230 crore is expected.

The power SEZ at Usar in Raigad district with a capacity of 250 MW will cover an area of 103 hectares and an investment of Rs. 1,000 crore is expected, while the power SEZ at Bhadrawati in Chandrapur will have a capacity of 1,000 MW, and cover 1,100 hectares and is expected to entail an investment of Rs. 4,000 crore.

The new airport at Sindhudurg will cover 306 hectares and the expected investment is Rs. 507 crore excluding the land cost.

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