Omaxe inks MoU with Raj govt to set up multi-brand SEZ

New Delhi, Nov 30: Real estate firm Omaxe Ltd today said it has entered into a memorandum of understanding (MoU) with Rajasthan government for setting up a multi-product special economic zone (SEZ) at Alwar over a period of five years.

The proposed SEZ, spread over 5,000 hectares of land, is expected to generate direct and indirect employment for about six lakh people in the state, a statement said.

The company said the Department of Commerce has accorded 'in Principle approval' to it for setting up of the above said project.

Omaxe has promoted a wholly-owned subsidiary -- Omaxe Rajasthan SEZ Developers Ltd -- by making an investment of Rs 5,00,000.

UNI