DS Constructions to invest Rs 12,000 crores
New Delhi, July 5: DS Constructions today announced it will invest Rs 12,000 crore to set up two multi-product Special Economic Zones (SEZs) in Haryana and Himachal Pradesh in the next ten years.
The proposal has been cleared by the Central government and agreements with respective state governments will be signed in the near future.
Both the SEZs will be constructed in two phases- 35 per cent will be completed in the first five years, while the remaining in the next five years.
''The SEZs will lead to infrastructure development, increase in Foreign Direct Investment and will generate direct and indirect employment of close to five lakhs during different stages of development in these two states. These SEZs will be constructed in over a period of 10 years and will be multi-product zones,'' DS Constructions Ltd Managing Director M S Narula said.
The special zone in Haryana will cover an area of 5,000 hectares.
About 35 per cent (1,700 hectares) of this area shall be utilised for setting up of light industrial units including auto components, pharmaceuticals, food processing, garments, gems and jewellery, sports goods and handicrafts and trade and business enabling industries.
Nearly 23 per cent (1,500 hectares) will be allocated to residential areas and housing, 2 per cent (150 hectares) for commercial purposes and the remaining 40 per cent (2,000 hectares) for service areas and infrastructure, such as open spaces, green areas, roads, public utilities and administration blocks.
The estimated cost of this entire project is Rs 10,000 crore, wherein Rs 2,500 crore will be spent in land acquisition, Rs 4,750 crore on developmental activities and the balance Rs 2,750 crore will be utilised for other related areas.
This project is estimated to generate about 4.5 lakh jobs directly and indirectly in the state over the next 10 years.
The multi-product SEZ facility in Himachal Pradesh DSC will utilise 1,000 hectares of land, out of which 400 hectares area will be allocated in developing service areas.
The remaining 600 hectares has been apportioned for industrial, residential and commercial purposes. The estimated cost of the entire project is Rs 2,000 crore, out of which Rs 750 crore will be spent in acquiring land, Rs 950 crores will be spent on developmental activities and the balance Rs 300 crores on other related areas.
The HP project is estimated to generate about one lakh both directly and indirectly in the state over the next 10 years.
DS Constructions Ltd is a leading infrastructure developer with over Rs 9,000 crore of projects under execution in the highways, expressways, railways and hydro power.
The company recently forayed into the Hydro-Power sector with 1,000 MW hydro electric project in Arunachal Pradesh.