Center Clears Two Major Investment Hubs for Telangana

Two National Investment and Manufacturing Zones (NIMZ) granted to Telangana by the Central government in December last year are finally shaping into reality. The Master Plans and Designs for NIMZ-Medak and Hyderabad Pharma City, Mucherla submitted by the state government were approved by the Central Government and they are recognized as ‘integrated industrial projects’.

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Very soon a notification will be issued by the Union commerce ministry which will help the projects secure financial assistance from the Central government. The center will extend 20% of the total expenditure incurred by the state government on developing NIMZ projects. Pharma City will come up in 16529 acres while Medak NIMZ in 12365 acres.

Telangana government has already acquired 5,000 acres for Pharma City and 3,500 acres for Medak NIMZ. The Pharma City project will cost 20000 crores and Medak NIMZ 12310 crore to the state exchequer. Telangana government expects investments worth Rs 64,000 crore in Pharma City and 20,000 crores in Medak Nimz. Pharma City is expected to provide employment to 3.25 lakh people and Medak NIMZ to 2.80 lakh.

The government is planning to get the environmental permissions for these projects by setting up common effluent plants etc which will cost at least 3000 Crore in Pharma City and some 1000 Crore for Medak NIMZ. The infrastructure facilities for both the projects will also cost a bomb. When completed, these plants will become money and employment spinners for Telangana