Hyderabad: Ramky Infrastructure Ltd is planning to replicate the Pharma City near Visakhapatnam with a multi-product industrial park near Hyderabad.
This time around, the company is handling the land acquisition directly. Earlier, the company had acquired the land allocated by Andhra Pradesh Industrial Infrastructure Corporation.
The Hyderabad-based Rs 6,000-crore diversified infrastructure and waste management solutions provider, Ramky group, plans to invest up to Rs 1,000 crore in the 2,000-acre park at Choutuppal on the busy Hyderabad-Vijayawada highway 60 km from here.
The Executive Director of Ramky Infrastructure, Mr M.Goutham Reddy, told Business Line, “The park will encourage projects from the textile, biochemical and other sectors offering them an integrated infrastructure. They would just have to come in and commence work.”
“Thus far, we have acquired over 1,000 acres and expect to complete the acquisition of the rest soon. We are looking at developing the project beginning this year end”, he said.
“We are not considering it as a Special Economic Zone. The entire land we have acquired is through direct purchase and we hope to invest about Rs 250 crore,” he explained.
The company is planning to phase out the development of the industrial park over 5-6 years, with the first phase coming up on a 2,000-acre site within 2-3 years.
IPO Move
“We are finalising the initial public offer for Ramky Enviro Engineers Ltd (REEL), a Ramky Group company engaged in management of environment offering services,” Mr Reddy said.
The company, known for NIMBY (not in my backyard) projects, is planning capital market entry to part fund its expansion and diversification plans.
“Consultants have been entrusted with the task to finalise the structure and the details to enter the market are being frozen. The market has to be conducive and must have appetite,” he said.
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