800 Crore to be invested in Kaladwas Pharma Zone


800 Crore to be invested in Kaladwas Pharma Zone

Udaipur is on its way to become an industrial hub in the region following implementation of the Budget declarations by Chief Minister of Rajasthan, according to which 70 acre of land has been allotted to Pharma companies by RIICO to setup their units in the Kaladwas Industrial Area, Udaipur.

 
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800 Crore to be invested in Kaladwas Pharma Zone

Udaipur is on its way to become an industrial hub in the region following implementation of the Budget declarations by Chief Minister of Rajasthan, according to which 70 acre of land has been allotted to Pharma companies by RIICO to setup their units in the Kaladwas Industrial Area, Udaipur.

Cadila and Mankind, two major Pharma giants will invest Rs. 800 Crore to setup their manufacturing assemblies in the land allotted to them, thereby providing employment to approximately 1,000 people.

Cadila has been allotted 40 acres and Mankind has been allotted 30 Acres in the Kaladwas area, which will be part of the Pharma Zone that will begin in the area, as informed by NK Bhargava, Senior Manager at RIICO.

Cadila was formally given possession of the land on 31st December and Mankind has been given permission to begin their unit after the initial sum was deposited. Both Pharma giants have been given upto three years during which they will need to begin their operations. Cadila will begin their construction work in the first quarter of 2016.

Analysts predict that with this initiative other MNCs will be keen to set up their operations in the region, thereby improving the region’s growth trajectory.

In another similar endeavor, NTC (National Textile Corporation) has also expressed interest in setting up their operations in the Kaladwas Extension. 30 acre of Land had already been allotted, but a different area is being re-allotted.

Due to the expected growth of the Kaladwas area, a four lane road has been proposed and the tenders for the same were finalized on Friday, 2nd January 2015. The 5.5 km road through the Kaladwas Industrial Area will be converted into a four lane and will be linked to the Banswara State Highway.

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