Chandigarh, November 21, 2007: Haryana government has flashed a green signal for setting up two Special Economic Zones (SEZs) by Reliance Industries Ltd in Gurgaon and Jhajjar cities of the state.
The two SEZs which would be set up in an area of 12500 acres each would be established through a joint venture with Haryana State Industrial Infrastructure Development Corporation (HSIDC). The HSIDC would have 10 per cent equity in both the projects.
The government had met with stiff resistance from various quarters for setting up the Reliance SEZ over an area of 25,000 acres in Gurgaon which would have been the country’s largest SEZ.
However, the government revised its proposal to meet the cap of upper limit of 12,500 acres area fixed by the Centre for setting up the SEZ.
The approval for the projects was accorded by the Haryana Investment Promotion Board (HIPB) chaired by chief minister Bhupinder Singh Hooda. The Board authorised HIPB for allotment of land to mega projects with an investment of Rs 100 crore and above. RIL has plans to list within three years its joint venture SEZs with the HSIDC which are expected to generate a cumulate turn over of Rs 50,000 crore in the first year.
Source: Deccan Herald
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