Bharat Forge to set up SEZ

The Pune-based firm is setting up a special economic zone near Pune on 5,000 acres for Rs 20,000-25,000 crore.

Pune-based auto components manufacturer, Bharat Forge is setting up a special economic zone (SEZ) near Pune, on land spread across 5,000 acres at an estimated investment of around Rs 20,000-25,000 crore.

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The SEZ is expected to have an employment-generating capacity of 60-to-70-thousand.

This SEZ would mainly cater to auto industry-based units.

A special purpose vehicle (SPV) was formed between Bharat Forge and Maharashtra Industrial Development Corporation (MIDC), in which the latter will be a minority stake-holder, a top level government official told PTI.

Bharat Forge and the government of Maharashtra will sign an MoU for this project on Wednesday.