M&M to set up SEZ in Pune
The group is mainly looking at attracting the electronic and electronic hardware industry to the special economic zone.india Updated: Mar 25, 2006 15:12 IST
Mahindra and Mahindra group said it will set up a multi-product Special Economic Zone along with the Maharashtra Government in Pune expected to attract investments in excess of Rs 9,000 crore.
"The group will be investing Rs 1,100 crore in the first year for land, infrastructure and buildings," M&M Executive Director Arun Nanda told reporters here.
"We are mainly looking at attracting the electronic and electronic hardware industry to the zone," he said, adding the SEZ would generate 75,000 jobs.
With regards to power supply for the SEZ, Nanda said, the group would have no difficulty initially.
"Mahagenco has a plant near the SEZ and so we would have no difficulty in power supply initially," he said.
"However, we would look at a captive power plant ultimately," Nanda added.
Asked whether the M&M group would look at setting up a manufacturing facility in the SEZ, Nanda said the group would keep all the options open.
"If there are plans to set up a facility here, this would be the number one choice," he said.
With regards to prospective customer for the SEZ, Nanda said, the group has not initiated talks with any companies.
"We have not started talking to companies as yet as the infrastructure development will take two and half to three years," he said.
"The Chennai SEZ has been sold off totally while we have something from large customers for our Jaipur SEZ," Nanda added.