Raheja to invest 4500 cr in Gurgaon SEZ

August 26, 2008	(Be the first to rate this story!)  Loading ...
Print This Story   Email This Story Subscribe Newsletter

Realty estate firm Raheja Developers said it would invest about Rs 4,500 crore to develop an engineering SEZ in Gurgaon over the next three to five years. “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 said. “We are going with the willing partnership of the farmers by paying them competitive prices for their lands. In case the farmers are still reluctant to sell their lands, we have an option where the landowner can give his land on lease and in return can expect an income of around Rs 2-5 lakh per month, which is much higher in comparison to what a farmer would normally earn on an equal stretch of land,” Raheja added.

When asked to comment on the amount of pressure, the growing number of SEZs will put on the limited agricultural land, Mr Raheja asserted that it is not SEZs, but low productivity of agricultural produce, that is an obstacle in the country’s pursuit of producing sufficient food grains. This project is expected to create job opportunities for around 50,000 people.

News Published Under:   Special Economic Zones |

Comments