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Friday, December 9, 2022

MADC Approves Allotment of Land to Torana Inc. in MIHAN

The outbound plans of the Torana project triggered the immediate approval of land

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Aditya Saikrishna
Aditya Saikrishna
I am 21 years old and an avid Motorsports enthusiast.

INDIA: The Maharashtra Airport Development Company (MADC) approved the immediate land distribution to the Torana company in MIHAN on Monday. The company’s proposal has been awaiting approval since June. 

The sudden approval of land for Torana Inc. comes amidst allegations of reluctance to provide land in MIHAN SEZ by authorities. 

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The current government and the opposition have been confronted with allegations for the past three days that Safran and Tata-Airbus have relocated to other states without investing in Nagpur’s MIHAN.

The Special Economic Zone (SEZ) and the Outside Special Economic Zone are the two parts of the MIHAN project. Land within SEZs sells at a relatively lower rate than land outside of SEZs.

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Torana Inc., an IT-based company, had asked for two and a half acres of land in the SEZ. In June 2022, the company applied for the same at MADC. However, the proposition was kept on hold by MADC instead of giving the land quickly by holding a board of directors meeting. 

Due to the delays in the allotment of land and other administrative factors, the entrepreneurs cannot receive the land promptly. Additionally, the MIHAN personnel receive the entrepreneurs without enthusiasm.

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When the issue came to light, it coped with heavy criticism. After that, MADC approved the transfer of 2.21 acres of land to the Torana company. However, the project was recently in plans to move out of Maharashtra.

Spacewood Company is reportedly eyeing the land outside the SEZ in MIHAN. The company’s proposal is said to have been awaiting a judgment for the last six months.

Spacewood is willing to acquire land worth around ₹12 Crores. As per sources, MADC has yet to decide regarding the allotment of land to Spacewood.

Torana Inc. is a software company based in Stamford, USA. It has an R&D centre in Nagpur, India. The company owns the iCEDQ software. It is an Extract-Transform-Load (ETL) Testing software used by customers like Lockheed Martin, Pfizer, IBM, and many other Fortune 500 companies in the USA.

Also Read: Defence Minister Takes Stock of Defence Production Activities in Nagpur

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