Mumbai: The Maharashtra Industrial Development Corporation has signed a concession agreement with Maha Integrated Life Sciences City Limited (MILeS City), a wholly owned subsidiary of Ramky Infrastructure Limited, to develop a high-tech pharmaceutical park in Maharashtra’s Raigad district.
The project, with an estimated investment of approximately ₹3,000 crore, will be developed at the Dighi Port Industrial Area under a Public-Private Partnership (PPP) model. It will follow the Design, Build, Finance, Operate and Transfer (DBFOT) framework, with a concession period of 95 years, including a five-year construction phase.
Also Read: Manglam Group Launches ₹400 Cr Summit Signature Sangam on Jaipur’s Ajmer Road
Spread across nearly 1,000 hectares covering parts of Mangaon and Roha talukas, the proposed development is expected to create a large-scale, integrated ecosystem for pharmaceutical, biotechnology, and life sciences companies.
The project will feature industrial zones, commercial spaces, internal road networks, utilities, and designated open areas, aimed at enabling efficient and scalable operations for businesses. It is designed to support a complete life sciences manufacturing ecosystem, including shared infrastructure, research and development centres, incubation hubs, and technology transfer platforms.
Officials said the project will focus on building environmentally responsible infrastructure aligned with regulatory standards, while promoting sustainable industrial practices.
Under the agreement, MILeS City will be responsible for the development, operation, maintenance, and management of the park throughout the concession period. The revenue model includes land lease premiums, rental income, development charges, and service-based operational revenues.
Commenting on the development, Sunil S. Nair, CEO of Ramky Infrastructure Limited, said the initiative represents a strategic step toward strengthening industrial infrastructure and driving innovation in Maharashtra’s life sciences sector.
“The project is expected to create a globally competitive manufacturing ecosystem, support employment generation, and attract long-term investments into the region,” he noted.
Also Read: Building Communities Where Nature Comes First, Says SPA Group MD Prashant Kajaria
The development is also expected to boost ancillary industries and local economic activity across the Raigad region.
Following this agreement, Ramky Infrastructure Limited’s order book has reached approximately ₹13,500 crore, reflecting continued growth in large-scale infrastructure and industrial development projects.
