Malhotra Developers plans industrial park in Ludhiana

Ludhiana-based real estate developer Malhotra Land Developers & Colonisers (P) Ltd intends to set up a knowledge-based industrial park in Ludhiana.

The proposed park would be spread over an area 53.63 acres and would be a mix of industrial, residential and commercial plots.

Speaking to Business Standard, Chairman and Managing Director of the company Ashok Malhotra said: "The proposed knowledge park would be a mix of industrial park, residential and commercial space. Of the total area, the industrial park would be spread over 34 per cent (of the total area), followed by residential (16 per cent) and commercial (5 per cent). The proposed industrial park will have only no-polluting units. The total project cost for the proposed venture would be around Rs 176 crore. The funding would be through internal accruals and bank loans".

The company has sent its detailed project report to the industrial department Punjab for necessary approvals. Besides that, the company also intends to set up an SEZ for engineering goods in Ludhiana with a project cost of Rs 213 crore.

The proposed SEZ, spread over 121.41 acres, has got approval from the Punjab government. The state government has forwarded the project for the Centre's approval.