Ramky Infrastructure announced that a concession agreement has been executed between Maharashtra Industrial Development Corporation (MIDC) and Maha Integrated Life Sciences City (MILeS) (being a Wholly Owned Subsidiary of Ramky Infrastructure) 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 including 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.
The total project cost is estimated at around Rs 3,000 crore 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 Utilities.