Nagpur: in the recent set of events Nagpur is prepared to become the location of India’s largest malt distillery, with Pernod Ricard making a significant investment of ₹71,785 crore in the project.
The Maharashtra Industrial Development Corporation (MIDC) has prepared a fresh offer letter for the company, offering land at a rate of ₹1,750 per square meter, following a dispute over land rates.
Wenesday Rate
Wed 25 Dec. 2024
The company will take up 3.60 lakh square meters of land for the project, and will receive the land at the reduced rate, plus additional charges for priority allotment, taking the final rate to around ₹81,925 per square meter.
This comes after the MIDC initially proposed a new land rate of ₹82,000 per square meter, which was higher than the rate of ₹71,750 per square meter applicable at the time of signing the memorandum of understanding (MoU) earlier this year. The company will now need to pay 25% of the land cost to receive the allotment letter, paving the way for the project’s commencement.
