Haryana to take back SEZ land for Rs 343 cr | india | Hindustan Times
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Haryana to take back SEZ land for Rs 343 cr

Approving the return of 1,383 acres of government land in Gurgaon from Reliance Haryana SEZ Limited (RHSL) to the Haryana State Industrial and Infrastructure Development Corporation (HSIIDC), the Haryana Cabinet on Friday decided against levying any penalty on Reliance.

india Updated: Feb 07, 2014 21:10 IST

Approving the return of 1,383 acres of government land in Gurgaon from Reliance Haryana SEZ Limited (RHSL) to the Haryana State Industrial and Infrastructure Development Corporation (HSIIDC), the Haryana Cabinet on Friday decided against levying any penalty on Reliance.

The land has been taken back from Reliance-led special purpose vehicle - RHSL- for its failure to implement the much-touted Special Economic Zone (SEZ) project. A global city project will be set up by HSIIDC in joint venture with Delhi Mumbai Industrial Corridor Development Corporation (DMICDC) at Gurgaon on the returned SEZ land.

Chief minister Bhupinder Singh Hooda said that while HSIIDC had transferred 1,383.68 acres to RHSL for a consideration price of about Rs 399 crore, the Cabinet on Friday approved the return of the land to HSIIDC in lieu of payment of Rs 343 crore. Reliance had sought `1,172 crore, including an interest amount of Rs 670 crore, for return of the land.