The Hindu Business Line : Maharashtra clears land for Reliance SEZ

Reliance Industries' proposed Special Economic Zone at Navi Mumbai is on course, with the Maharashtra Government clearing allotment of the second tranche of 1,150 hectares of land.

The State Cabinet cleared the land allocation on Wednesday.

With this, Reliance has received more than 50 per cent of the required land for its multi-product SEZ; the total land requirement being 2,140 hectares. The first allocation of 450 hectares was given earlier this year.

The City and Industrial Development Corporation of Maharashtra Ltd, the nodal agency for the development of the SEZ, holds 26 per cent equity in the SEZ, the rest being held by Reliance.

Out of the total SEZ area, 15 per cent would be earmarked for residential purposes and the remaining 85 per cent for industrial purpose. The company would provide the electricity for the SEZ. Reliance will have to wrap up all the development works at the SEZ within the next six years.

Reliance is setting up two SEZs in the State, with the other one being proposed in Raigad district, which will be spread over 10,000 hectares, involving a cost of Rs 30,000 crore.

More Stories on : Infrastructure | Policy | Maharashtra | Reliance Industries Ltd

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