Board of Approvals sanctions Parsvnath SEZ Ltd

New Delhi, July 16: Parsvnath Developers Ltd today said the Board of Approvals, Ministry of Commerce and Industry, in its meeting held on July 12, 2007, has approved the company's subsidiary - Parsvnath SEZ Ltd.

Parsvnath SEZ Ltd will be engaged in the development of a Bio-technology and Pharma SEZ, covering a land area of 25 acre at Genome Valley Biotech Park, Phase-III, Hyderabad (Andhra Pradesh), said a statement.

The SEZ envisages a developable area of 21.5 lakh sq ft, with an investment of Rs 400 crore. The project land has already been acquired, and the company is now moving towards an early notification of the SEZ, the statement added.

UNI