MoU for Special Economic Zones in Bihar

Patna, Aug 2 (UNI) The Bihar government today signed Memorandum of Understanding (MOU) with Infrastructure Leasing and Financial Services (IL&FS) for establishing Special Economic Zones (SEZs) in the state.

After signing the MoU, state Chief Secretary G S Kang told newspersons here that there was a strategic alliance with IL&FS for development of SEZs at various locations, to be identified after intensive survey.

Accompanied by D K Mittal and representatives of the IL&FS, Mr Kang said the projects involved development of two product-specific SEZs and one multi-product SEZ.

He said this would lead to significant investment and provide ample opportunity for employment in the state.

The locations would be identified through site analysis, to be done jointly by the state government and the IL&FS.

The state government was committed to development of world class SEZs for the accelerated industrial development in the state, he said adding location identification, besides technically, scientifically and financially viable project report would be completed within six months and the work on SEZs would start within a year.

The IL&FS would also rope in the investors, he informed.

Addressing newspersons, Mr Mittal said the IL&FS was willing to provide its services for development of other Identified Infrastructure Projects apart from the SEZs.

He said all the three major works, preparation of regulatory framework of the state government, preparation of project report and marketing and promotion of investors, would be done simultaneously.

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