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RIL, HSIDC to launch joint firm for SEZ in 15 days

Written by: Staff

Chandigarh. Aug 9 (UNI) A joint company would be floated by the Reliance Industries Limited (RIL) and the Haryana State Industrial and Infrastructure Development (HSIDC) to set up the Rs 40,000 crore Special Economic Zone (SEZ) in the state within a fortnight.

The Board of Directors was being appointed and a joint company would be registered within the next 15 days, state Chief Secretary Prem Prashant said while talking to reporters here.

He said a special purpose vehicle was being constituted, with ten per cent equity of the HSIDC and 90 per cent of the RIL.

The Chief Secretary said the RIL had constituted two teams--one for acquiring the land and another for making plan for setting up of the SEZ. He said the verification of the record of the land was being done by the Revenue Department so that it could be given to the RIL.

As soon as the entire 2500 acres of land would be purchased by the RIL the work would be started immediately.

Referring to the proposal for setting up a Nano-city at Panchkula, he said it was under consideration of the government.

To a question, he said the issue of granting special incentives for setting up industries in the hilly areas of the state was discussed in the recently held meeting of state Chief Secretaries in New Delhi. Efforts were being made by the government to provide facilities in hilly areas of Haryana at par with the other states having hilly areas.

To another question, he said there was no proposal for increasing the bus fare in the state.


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