Attivo Economic Zone, a Srei associate company, that is into development and marketing of special economic zones and industrial parks, is looking to invest close to Rs.3,000 crore, in phases, across two of its projects. Investments will be spread over a 10-year period.
The company has put in ₹500 crore at its multi-product SEZ at Tuticorin (Tamil Nadu) and the upcoming multi-services one at Alibaug (Maharashtra). According to Indranil Dasgupta, Chief Executive Officer, Attivo, around 1,000 acres will be developed under the first phase at the Tuticorin SEZ. The SEZ has already become operational with some 100-odd acres being leasedout.
In case of Alibaug, Phase 1 will see the development of 150 acres (350 acres total area); and the project is likely to operational in another two years time.
“We will develop over 2,500 acres in Tuticorin at a cost of Rs.2,000 crore over a 10 year period; while for Alibaug, we will invest close to Rs.1200 crore over eight-odd years,” he told BusinessLine.
The projects, Dasgupta said, will be financed through internal resources and bank loans.
Expansion through buys
This apart, the company, is also in talks for setting up SEZs or industrial parks in States like Madhya Pradesh and Rajasthan.
“We intend to diversify our portfolio and hence the plans for North India,” he said adding that the company was also open towards brown-field expansion (through acquisitions) in the medium term.
Attivo, sources said, is also engaged in parleys with the Andhra Pradesh government for facilitating the setting up of an aerospace/aircraft part manufacturing facility in Anantapur district of the State.
It has recently taken over the marketing of a SEZ at Bharuch (Gujarat).
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