Ramky Infrastructure Ltd's arm MILeS signs agreement with MIDC

A Concession Agreement has been executed between Maharashtra Industrial Deve lopment Corporation (MIDC) and Maha Integrated Life Sciences City Limited (MILeS) (being a Wholly Owned Subsidiary of Ramky Infrastructure Limited) as a developer for the "Development, Operation, Maintenance and Management of the upcoming High-Tech Pharmaceutical Park in Dighi Port Industrial Area Mangaon & Roha Taluk, Raighad District in the state of Maharashtra on PPP Basis".

This project has been awarded for a period of 95 years concession incl uding construction period of 5 years. This Project includes development of an Industrial Park over an area of 1000 hectares in Raigad District of Maharashtra primarily consisting of Industrial Zone, Commercial Zone, Common Amenities, Utilities, Open spaces and Roads.

This Life Sciences City aims to act as a one stop holistic solution to the Life Sciences and Pharma Sector in providing them with all the requisite sustainable Infrastructure for establishing their units.

The total project cost is estimated at around INR 3,000 Crores and the company would be able to earn revenue by way of

a) Land Lease Premium
b) Development Charges
c) Maintenance income for the Services
d) Operation income from the Util ities.

With this project Ramky Infrastructure Limited will position itself as a major player in the Country having niche experience in execution of projects providing holistic infrastructure facilities for Life Sciences and Pharma Sector and allied industries.

Shares of Ramky Infrastructure Limited was last trading in BSE at Rs. 458.05 as compared to the previous close of Rs. 459.25. The total number of shares traded during the day was 8401 in over 480 trades.

The stock hit an intraday high of Rs. 465.15 and intraday low of 448.00. The net turnover during the day was Rs. 3832546.00.

Source : Equity Bulls

Keywords

RamkyInfrastructure INE874I01013 MILeS Agreement MIDC PharmaceuticalPark