Mumbai: The Maharashtra Government is planning to set up a bulk drug park in Raigad district and medical equipment complex in the AURIC City, Aurangabad. The state’s industries department has drafted a plan to set up a bulk drug park under Atmanirbhar Bharat plan. A total of 5,000 acre of land allocated in 17 villages in Roha and Murud taluka of Raigad has been reserved for this project. The project will create a major job opportunity.

The Centre had made a proposition for three parks with an incentive of Rs 1,000 crore for each park. It invited applications and informed a marking system based on accessibility of water, power, land, and technical manpower, ranking in the ease of doing business and incentive policy. The last date to apply was 16 October 2020. A total of 1,000 acre of land for the project is in Government possession. An amount of Rs 2,500 crore will be required for the basic foundation, and the speculation is anticipated to be Rs 30,000 crore.

The state government anticipates to pull in an investment of Rs 25,000 crore. The government hopes the improvement of these ventures will grant a major impulse to medical equipment as well as drug production in the state.

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The government will offer a slew of incentives for 5 years to the investors counting a 100% refund of state goods and services tax for the investors, 100% stamp duty waiver for all purposes like purchase of land amid the investment period, rent, mortgage for bank loan and electricity concession Rs 1.5 per unit for 10 years.