Ramky Infrastructure Ltd has formalised a concession agreement with Maharashtra Industrial Development Corporation for the development of a high-tech pharmaceutical park at the Dighi Port Industrial Area in Raigad district. The project will be undertaken through its wholly owned subsidiary, Maha Integrated Life Sciences City Ltd (MILeS City).
The development will follow a Public-Private Partnership (PPP) framework under the Design, Build, Finance, Operate and Transfer (DBFOT) model. The estimated project cost stands at Rs 3,000 crore, excluding operational revenues to be generated during the lifecycle of the project. The concession period is set at 95 years, which includes a five-year construction phase. Upon execution, the project will be added to the company’s order book, taking its total order book value to approximately Rs 13,500 crore.
Spanning nearly 1,000 hectare within the Dighi Port Industrial Area, the proposed park will cover parts of Mangaon and Roha talukas. The master plan includes industrial zones, commercial developments, internal road networks, utilities, common infrastructure, and designated open spaces.
The project aims to establish an integrated life sciences manufacturing ecosystem, offering end-to-end infrastructure and shared facilities tailored for pharmaceutical, biotechnology, and allied sectors. It will feature advanced utilities, research and development centres, incubation hubs, and technology transfer platforms designed to foster innovation and collaboration. Sustainability and regulatory compliance have also been embedded into the project’s infrastructure planning.
Under the agreement, MILeS City will be responsible for the complete lifecycle of the project, including development, operation, maintenance, and management throughout the concession period. The revenue streams will comprise land lease premiums and rentals, development charges, maintenance fees for shared infrastructure, and operational charges for utilities and common facilities.
The initiative is expected to bolster industrial infrastructure in the region, attract investments into the life sciences sector, and create substantial direct and indirect employment opportunities. It is also likely to catalyse growth in ancillary industries and local businesses in the surrounding areas.
Commenting on the development, Sunil S Nair, CEO, Ramky Infrastructure Ltd said, “This agreement marks a significant milestone not only for industrial development, but for the wider communities and businesses that stand to benefit from it. By creating a large-scale integrated life sciences ecosystem at Dighi Port Industrial Area, we see an opportunity to support employment generation, strengthen regional infrastructure, encourage innovation, and attract long-term investment into Maharashtra. The project is designed to enable pharmaceutical and biotechnology companies to grow within a well-supported and globally competitive manufacturing environment.”