Aurangabad, Nov 10:
The Russian steel company Novolipetsk Steel (NLMK), has acquired 45 acres of land and has commenced the construction process in Shendra DMIC. The company has made appointment of contractors for further works.
In the first phase, the company will invest Rs 1,000 crore, which will provide employment to 500 people. According to DMIC officials, A number of companies are now taking possession of the plots in the Shendra phase as per the agreement. NLMK has also ventured into the city''s industrial sector. There had been talks between the Auric officials and company management for the past year for finalizing the investment. Recently, the company took possession of the 45 acre plot and started work. In fact, it may take another 10 to 12 months for the company to start production. Last month, six local companies took plots in Shendra bringing an investment of around Rs 60 crore.
Employment to 2,000 youths
Over the next year, around 20 companies in Shendra have started production. Other companies are also on the verge of completing the construction. These companies will provide employment to more than 2,000 youths. The city''s industrial associations and industries are also going to start skill development centers to provide training and skills to the youths to make them employment ready.