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Reliance (ADAG) Group may tie up with Indiabulls for Raigad SEZ

Anil Dhirubhai Ambani Group (ADAG) company Reliance Energy Ltd. (REL) is reportedly forming a 50:50 joint venture (JV) with Indiabulls Real Estate Ltd. to develop the 6,000-acre multi-product special economic zone (SEZ) in Maharashtra’s Raigad district.

This move is part of REL’s plan to diversify into real estate and infrastructure development businesses, says a financial daily. The company aims to utilise the 22-km Mumbai Trans Harbour Link project from Sewree to Nhava-Sheva as a logistics link to the SEZ, the newspaper adds.

The proposed SEZ will comprise an industrial processing area of 2,100 acres, commercial area of 900 acres, residential area of 1,500 acres and open space of 1,500 acres. It will comprise of a central core with various industry hubs.

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