Chinese player WanFeng Auto Holding Group plans to invest in AURIC

Maharashtra government has received investment proposals worth Rs 11,500 crore in the auto, electric vehicles and steel sectors especially after the recent announcement of its new industrial policy for 2019-24 which envisages attracting investment of Rs 10 lakh crore with creation of 40 lakh jobs. Chinese player WanFeng Auto Holding Group plans to invest Rs 1,500 crore for the production of aluminium alloy wheels for automobiles in AURIC, Aurangabad.

Wanfeng Auto Holding Group manufactures and sells auto parts and equipment and also automotive aluminium wheels. The company will need 200 acre of land and it may zero in on Shendra-Bidkin Industrial Area near Aurangabad. Csepel Holding, which produces and sells machine-tools primarily in Europe, is also engaged in the production of electric buses in various countries. It will need about 200-acre land to set up a production facility.” Further, NLMK Group, which worldwide caters to wide-ranging sectors including shipbuilding, automotive, energy generation and transmission, construction, wind-mills, is keen to invest in the state.
Mitsubishi Electric, which manufactures and sells electrical and electronic products and systems used in a broad range of fields and applications, has proposed an investment of Rs 1,000 crore to expand its business in the state. ”Talks are underway with all these four companies to enter into MoUs. They will be entitled for incentives under new industrial policy 2019-24 released on March 6, State industries department officer told media

Citykatta’s take
Chinese, Russian and multinationals of some other countries are planning to make investments in India. Maharashtra can pull these investments by showcasing its plus points i.e. the availability of ample land, developed infrastructure along with availability of skilled labour at reasonable rates. DMIC Aurangabad fulfils all the above mentioned criteria plus have an added advantage of being a Greenfield planned township offering high end physical and IT infrastructure along with rail, road, air and port connectivity at a affordable price. Further DMIC AURIC, Aurangabad has the backing of not only the state govt but is also funded and co owned by the Central government through equity participation. With physical infrastructure under construction at Bidkin and Shendra node offering plug and play environment to investors, both these places can be attractive destination for companies considering to invest in India & Maharashtra. Aurangabad being and auto and auto ancillary hub with specific presence of aluminium major Hindalco, skilled labour should not be a problem for Chinese player WanFeng Auto Holding Group which plans to invest Rs 1,500 crore for the production of aluminium alloy wheels for automobiles. Other investors such as Hungary based Csepel Holding for electric buses, and the Russian NLMK Group for the production of transformer steel can also find Aurangabad suitable because of presence of many associated industries in and around Aurangabad. Only thing required is political will by the state government to translate these investments into reality for the development of Aurangabad in particular and Maharashtra as a whole.