MIDC signs MoU for development of SEZs

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Mumbai, Aug 7 (UNI) The Maharashtra Industrial Development Corporation (MIDC) has signed memoranda of understanding for developing three Special Economic Zones (SEZs) at Nanded, Amravati and Nagpur in the State by four companies.

The MoUs were signed yesterday by MIDC CEO Rajiv Jalota and the representatives of companies.

The four companies that will develop SEZs include Infrastructure Leasing and Financial Services (IL&FS), Eldeco Infrastructure, Soma Enterprises and Ajanta.

While IL &FS will develop pharmaceutical SEZ at Nanded, Eldeco Infrastructure will have its SEZ at Amravati. Soma Enterprises will develop its SEZ at Kolhapur, while Ajanta will have at Nagpur.

These MoUs would need investment of around Rs 5,000 crore and give employment to 40,000 people, said Industries Minister Ashok Chavan while speaking on the occasion.

He said the SEZs were expected to be completed within four to seven years.

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