New SEZ approved in Faridabad | india | Hindustan Times
  • Thursday, Jul 19, 2018
  •   °C  
Today in New Delhi, India
Jul 19, 2018-Thursday
New Delhi
  • Humidity
  • Wind

New SEZ approved in Faridabad

To come up on 12,500 acres of land, the economic zone will generate 4.5 lakh jobs.

india Updated: Jul 04, 2006 02:54 IST

The central government has given its nod to one more special economic zone (SEZ), an area of 12,500 acres (5,000 hectares), in Faridabad. To be developed by a private sector infrastructure development company, this multi-product SEZ is likely to generate job opportunities for 4.5 lakh people and will have its own power plant with a capacity of around 500 to 1000 mega watt.

Other major private sector players coming up with SEZs in NCR towns are Reliance (25,000 acres) in Gurgaon-Jhajjar, DLF (20,000 acres) in Gurgaon and Unitech (20,000 acres) in Kudli (Sonepat). A total of 22 SEZs are expected to come up in Haryana.

DS Constructions, which is constructing the Delhi-Gurgaon and KMP Expressway, will develop this SEZ in collaboration with a foreign company on the model of the Jabel Ali SEZ of Dubai, Shenzhen SEZ in China and Europark Mielec SEZ of Poland, the company claimed.

It's coming up at a site between KMP (Western) and the Eastern Expressway, touching all major highways of northern India, increasing the locational viability of the project.

N.D. Mehra, executive director of DS Constructions, told the Hindustan Times that 60 per cent of the area will be utilized for industrial, residential and commercial purposes. "1,700 hectares (35%) of this area shall be utilized for setting up of light industrial units, including auto components, pharmaceuticals, food processing, printing and publication, electrical and electronic goods, garments, value addition processing units, gems and jewellery, toys and sports goods, handicrafts and trade and business enabling industries," Mehra said.

He added, 1,500 hectares (23%) will be allocated to residential areas and housing, 150 hectares (2%) for commercial purposes, while the remaining 2,000 hectares (40%) will be allocated for service areas and infrastructure, such as open spaces, green areas, roads & walkways, public utilities, administration blocks and inland container depot etc.

The estimated cost of the entire project is Rs. 10,000 crore. Out of this, Rs 2,500 crore will be spent in land acquisition, Rs 4,750 crore on developmental activities, and the balance Rs 2,750 crore will be utilized for other related areas.

Mehra claimed that the project was estimated to generate approximately 4.5 lakh jobs (directly and indirectly) in the state over the next 10 years. The project is expected to be completed over a period of 10 years in two phases.

Thirty-five per cent of the construction is to be undertaken in the first five years and the remaining 65 per cent will be undertaken within the next five years, he added.