Mumbai, Apr 8 (UNI) Realty company Parsvnath Developers through its subsidiary Parsvnath SEZ (PSL) Company today started work on setting up a pharmaceutical Special Economic Zone (SEZ) at Nanded in Maharashtra.
Located in Krushnoor Industrial Area of Nanded, the company is building the pharma SEZ in an area of 370 acres in joint venture with the Maharashtra Industrial Development Corporation. PSL holds 74 per cent stake in the joint venture.
Speaking at the foundation stone laying ceremony, State Minister for Industry, Cultural Affairs and Parliamentary Affairs Ashok Chavan said the SEZ would help bringing in FDI and fuel exports from the region.
The company plans to develop over 367 million sq ft area for its presently planned 17 SEZ projects in various segments like pharma, biotech, IT/ITES, gems and jewellery, handicrafts, leather, food processing and automotive sectors apart from multi-product SEZs, which were in different stages of development of these projects, four SEZs have been notified by the Union Ministry of Commerce and Industry.
The pharma project to be set up by JVC named as ''Parsvnath MIDC Pharma SEZ Private Limited'' is strategically located near to the Nanded-Hyderabad State Highway SH-6 with easy availability of all infrastructural requirements for setting up a pharmaceutical SEZ.
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