PATANJALI PLANED TO BUY 230 acre LAND
Patanjali Ayurved Limited for the 230-acre food park land in Mihan, will also be getting space in the project. The company dubs itself to be the world’s largest manufacturer of metformin — a medicine for diabetes. The Maharashtra Airport Development Company ’s ( MADC ) board of directors on Wednesday cleared the proposal to allot 50 acres of land to the Aurangabad-based pharmaceutical unit in Mihan’s special economic zone (SEZ). It will have to pay Rs70 lakh an acre for the land. The MADC is charging Harman Rs10 lakh more per acre to cover up the loss made in the deal with Patanjali. The company plans to invest around Rs 500 crore in the Nagpur project. This will be the second pharmaceutical company to come up in Mihan after Lupin, which already has plans to expand in Nagpur. Patanjali bagging 230 acres of land to set up a food park in the non-SEZ area of Mihan raised a controversy. It bagged the land as a sole bidder. MADC’s loss in the deal is pegged at Rs170 crore a...