Zaheerabad smart city SPV office opens; Hyundai gets first land offer
Telangana opens the NICZISCL office for Zaheerabad Industrial Smart City and issues the first land offer letter to Hyundai Motor India Engineering for 270 acres.
The special purpose vehicle tasked with building the Zaheerabad Industrial Smart City now has an operational base, with its new office inaugurated on Friday. The entity, NICDIT Zaheerabad Industrial Smart City (NICZISCL), will use the office to steer planning, development and administration of the project and to serve as a single point of contact for companies evaluating the site.
The inauguration was led by K. Shashanka, vice chairman and managing director of the Telangana Industrial Infrastructure Corporation. Lt Cdr Ravindranath Reddy, chief executive (projects) of TGIIC, and other senior officials attended the programme.
At the event, the first offer letter was issued to Hyundai Motor India Engineering for the allotment of 270 acres within the industrial smart city. The SPV said the allotment is expected to set the stage for industrial activity, generate employment and add to Telangana's economic growth.
NICZISCL has invited prospective investors and industries to participate in the project, which is being positioned as a leading industrial hub in the state.
The smart city is planned across 3,245 acres. Telangana holds a 51% stake in the project through land, while the Centre is extending financial support for the industrial corridor's development.
Speaking last month at a meeting of the National Industrial Corridor Development and Implementation Trust, IT and Industries Minister D. Sridhar Babu said development of the Zaheerabad Industrial Smart City is targeted for completion by March 2028, with the state eyeing investments of about ₹15,000 crore. Once fully operational, the project is expected to create direct and indirect employment for nearly two lakh people.