RIL's SEZs to add Rs 50,000 cr to exports kitty
The SEZs, to be set up with an initial investment of Rs 25,000 crore, will see further funds being pumped in to the Rs 2,50,000 crore over the next decade.india Updated: Jun 20, 2006 14:34 IST
A day after inking the deal for the biggest SEZ in the country in Haryana, Reliance Industries Ltd said its two other proposed SEZs in Mumbai would contribute Rs 50,000 crore to the country's exports once they are operational.
The SEZs, to be set up with an initial investment of Rs 25,000 crore, will see further funds being pumped in to the Rs 2,50,000 crore over the next decade and create employment opportunities for 25 lakh people, RIL said in Mumbai on Tuesday.
"The SEZs known as Navi Mumbai SEZ (NMSEZ) and MahaMumbai SEZ (MMSEZ) will earn a capital investment to the tune of Rs 25,000 crore, which as per primary expectations is likely to touch a total investments of Rs 2,50,000 crore over a decade," RIL said.
The SEZs will need around 1,600 MW power for their energy needs.
"The Mumbai SEZs will attract direct investments in industries, services and supporting social infrastructure sector," it said.
The SEZs in Haryana and Mumbai mark a foray by the country's top petrochemicals firm into the infrastructure space.
RIL on Monday inked a pact with Haryana for setting up an over Rs 25,000 crore multi-product SEZ.
"The Haryana government has gone ahead with the signing of the SEZ with Reliance Group despite political opposition. The step is crucial and deserves to be emulated by Maharashtra for a variety of reasons."