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The Telangana government has signed an agreement with Attivo, part of Srei Group, for setting up of an industrial park to manufacture infrastructure equipment.

According to the memorandum of understanding (MoU) signed between the Telangana government and Attivo in Bengaluru, the Srei Group entity will develop the infrastructure equipment manufacturing park in the national investment and manufacturing zone (NIMZ), coming up near Zaheerabad town in Telangana.

In a statement, the state government said the proposed park, to come up over 500 acres, will create a sustainable and comprehensive industrial zone of global standards. It will have a potential to generate direct and indirect employment for over 10,000 persons over the next 10 years.

According to Sunil Kanoria, vice-chairman of Srei, Attivo's proposed park would be the most ideal location for all construction and mining equipment manufacturers, as a plethora of road, irrigation and mining work is being awarded by the government of Telangana and most of the contractors and construction companies are based there. It makes economic sense to set up the manufacturing base in the zone, which will be fully enabled from all infrastructure aspects.