Hyosung Corporation of South Korea, the largest global spandex producer, is likely to invest around Rs. 3,000 cr in a manufacturing facility in Maharashtra, a top government official said today. The project will be set up in Aurangabad Industrial City (AURIC), a Greenfield smart industrial city being developed across 10,000 acres, as part of the Delhi-Mumbai Industrial Corridor (DMIC), the official said.

“Hyosung Corporation is likely to invest around Rs. 3,000 cr in a manufacturing facility in Maharashtra. In the first phase of the project, the company will invest Rs. 1,250 cr and the State Government will soon take a decision on its request to allot 100 acres land near Aurangabad,” the official told.