Nashik attracts Rs 2,565cr

Nashik's industrial development is gaining steam with several large and small and medium enterprise units expanding their bases and investing Rs 2,565 crore in the last two years. Availability of adequate land at lower rates, coupled with good climate and abundant water, is making the investors plan big.

Mahindra Renault, a 51:49 joint venture between automobile major Mahindra & Mahindra (M&M) and French automobile giant Renault, last year set up the Logan car manufacturing facility adjacent to the M&M's existing facility, with an investment of Rs 600 crore. M&M has also invested Rs 550 crore for its new multi-utility vehicle project Ingenio.

In March 2007, Mahindra Intertrade Ltd (MIL), an M&M company, commissioned its blanking line facility at Gonde, 25 km from Nashik, with an investment of Rs 50 crore. Motor Industries Company (MICO) has invested Rs 550 crore to manufacture and assemble common rail diesel injectors at its Nashik facility.

Rothe Erde India Pvt Ltd recently commissioned its slewing bearings manufacturing facility at Gonde at an investment of Rs 100 crore. Nashik-based TKES India too flagged off its hydrogen unit at Gonde at an investment of Rs 30 crore in July 2007.

Lear Corporation, one of the world's largest automotive interior suppliers, recently set up its second vehicle seats manufacturing facility here with an investment of around Rs 50 crore.

Pharma sector too saw substantial investments with Glaxo SmithKline commissioning its Rs 50 crore vaccine manufacturing facility in the city. It is its first vaccine manufacturing facility in India.

As part of its expansion plan, Mumbai-based business process outsourcing service provider Datamatics Technologies Ltd has set up its BPO unit in Nashik. The company has bought 40,000 sft property near the Mumbai Naka area and had invested around Rs 50 crore so far.

ABB Ltd, Graphite India Ltd, Asian Electronics Ltd, Tricom India Ltd, Sharda Motors and Parle Biscuits Pvt Ltd have also expanded their base in Nashik and the total investment is estimated at around Rs 200 crore.

Pune-based Atlas Copco (India) Ltd recently expanded its Nashik facility at an investment of Rs 28 crore. The company set up new assembly units for surface drilling rigs and in modernised its hand-held construction tools facility.

Rose Preci-Form Pvt Ltd, a 50:50 joint venture between the Raymond Group and US-based auto component manufacturer AJ Rose Manufacturing Company, had set up its new facility at Sinnar at an investment of Rs 17 crore.

Meanwhile, around 100 SMEs from Satpur, Ambad, Sinnar and Dindori areas of Maharashtra Industrial Development Corporation (MIDC) and Gonde's private industrial area in the Nashik belt have expanded their manufacturing bases in the last two years, with an total investment of around Rs 300 crore.