Reliance-HSIIDC sign deal for India's largest SEZ

By Staff
|
Google Oneindia News

Chandigarh, June 19 (UNI) Reliance Industries Ltd. (RIL) and the Haryana Government today signed an agreement for setting up India's largest multi-product Special Economic Zone (SEZ) involving an investment of over Rs 40,000 crore .

RIL, the country's largest corporate entity, would pump in over Rs 25,000 crore in the joint venture to be spread over 25,000 acres of land between Gurgaon and Jhajjar and the remaining Rs 15,000 crore would be invested by other companies which would set up their units in SEZ.

The project is expected to attract overall user investment of over Rs 1,00,000 crore over a period of time.

The agreement was signed by Reliance Ventures Ltd. Director Anand Jain on behalf of RIL and Haryana State Industrial and Infrastructure Development Corpn. Ltd. (HSIIDC) Managing Director Mr Rajiv Arora.

The deal was signed in the presence of RIL Chairman and Managing Director Mukesh Ambani and Haryana Chief Minister Bhupinder Singh Hooda.

RIL and HSIIDC have set up a joint venture company -- Reliance Haryana SEZ Private Ltd. -- having equity participation of 90:10 ratio.

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