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Raheja to develop engineering SEZ in Gurgaon
| August 20, 2008 |  (Be the first to rate this story!) Loading ... |
Realty firm Raheja Developers Ltd today said it would develop an engineering SEZ in Gurgaon over the next three to five years. The firm will be spending Rs 4500 crores on the project. The project is expected to create job opportunities for around 50,000 people (including both direct and indirect) and has a potential to generate annual exports of Rs 1,000 crore.
“This is the first notified engineering Special Economic Zone (SEZ) in the northern India. The project cost to develop this 255-acre SEZ is about Rs 4,500 crore,” Raheja Developers Chairman Navin M Raheja told reporters here. The investment would be funded through a mix of debt, equity and internal accruals, he said. “We are looking at strategic investors as well,” he added. Raheja said the first phase of the project that involves the notified 255 acre would be completed over the next 3-5 years. The company plans to increase the size of SEZ project and is in talks with land owners. He said the expression of interest from the companies has been sought and deadline for submitting the same is September-end. “We are in talks with at least 10 firms which have shown interest in setting up facilities in our SEZ,” Raheja SEZs Ltd Director Ajay Midha said, but refused to name any.
News Published Under: Real Estate Developers |
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