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« Prime Urban Developers Plans to Raise Rs 840 Crore | Home | IVR Prime IPO to Raise Over Rs 849 Cr »

DLF to Develop Rs 850 Cr IT SEZ in Gujarat

Real estate giant DLF has recently announced to develop a Rs 850 crore SEZ in Gujarat. The project will come up over 25 acres at Gandhinagar opposite Infocity.

The company has also unveiled its plans to carry out several other projects in the Gujarat and to put the state among the group’s top 5 investment destinations including the Delhi – NCR and Mumbai-Pune regions. The overall plan will be executed with whopping Rs 6000 crore, informs Rajiv Singh, Vice Chairman, DLF Ltd.

The Gujarat project is likely to create a pool of job opportunities for 30,000 people after completion which would take around 18 months. DLF will invest Rs 3,000 crore in establishing three IT SEZs including Gandhinagar, Ahmedabad, and Vadodara.

The construction work on the IT SEZ at Ahmedabad is scheduled to begin in the next few months. The company is searching 25-30 acres land near Vadodara. Another Rs 3000 crore will be invested in developing at least 5-6 hotels in a joint venture with Hilton in Ahmedabad, Rajkot, Surat, Vadodara, and Jamnagar.

DLF also has plans to come up with an airport in Gujarat involving an initial investment of Rs 5,000.

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