Maharashtra Airport Development Company invites Glenmark pharma to set up unit in Mihan.

NAGPUR: Maharashtra Airport Development Company (MADC) is wooing another pharmaceutical major to start operations in the special economic zone (SEZ), Mihan, here. Already, Lupin Pharma has started its operations, while IT bigwig Infosys held its ground breaking ceremony last week. Against this backdrop, MADC is hoping to clinch a deal with the Mumbai-based Glenmark Pharmaceuticals Limited too.

"The company has plans to start a new manufacturing unit and may take up around 15 acres of land in the SEZ. Though the company's team has already surveyed sites in other states, we are hopeful that Mihan will be the final choice,' said Sitta Rasu, the senior marketing manager of MADC.

Rasu said a decision is expected within a month's time. MADC is showcasing Mihan-SEZ for the logistical advantage a manufacturer will get on account of Nagpur's central location. However, he added that the exact details of the investment, to be made by Glenmark Pharma, or the job creation potential is not known yet. Further rounds of meetings will be held in due course. Lupin Pharma which already has operations in Mihan, has acquired 35 acres of land in the SEZ.

MADC has not changed its rates pegged at Rs60 lakh per acre since the last five years, at least. If it agrees, Glenmark Pharma will be charged the same rate, he said.

The Indian arm of GlobalLogic, a US-based software company that has its base in the city, is also planning to acquire 27,000-square feet of built-up space in Mihan's central facilitation building (CFB) - an incubation centre set up by MADC. It is hoped that the company will eventually expand its operations by taking open land too, said Rasu.

Shashi Chaudhary, the head of GlobalLogic's India operations, said the company's business is expanding. Last month, the company was taken over by Europe-based Apex Group, which has aggressive growth plans. The Nagpur unit basically caters to the telecom sector.

With the recent chain of events, MADC is seeing signs of revival in Mihan. Infosys may encourage other IT companies to start operations. Recently, Ambuja Realty, that was dormant since it acquired the land for setting up an IT Park, came forward to pay the development charges, said Rasu.

"As far as Infosys' approvals are concerned, it will not take much time," he said.

Yet, the delay in starting work by many investors has been a concern for Mihan. Though Infosys may have performed the ground breaking ceremony with plans to start work in next six months, there are many IT majors which are sitting on huge plots of land with no sign of development. These include Wipro, HCL, as well as other players like DLF and Shapoorjee Pallonjee, that had plans to set up an IT Park where space could be let out to several smaller players.

Source : timesofindia.indiatimes.com