Ansal Properties to develop SEZ in HaryanaJuly 28th, 2008 - 10:22 pm ICT by IANS
New Delhi, July 28 (IANS) Ansal Properties and Infrastructure Ltd (APIL) Monday received the formal approval of the Department of Commerce to develop a special economic zone (SEZ) in Haryana with an investment of Rs.9 billion ($214.3 million). The engineering-based SEZ that includes residential houses and manufacturing units is coming up on 250 acres near the Amritsar-New Delhi Grand Trunk Road. The company has set up a subsidiary, Ansal Kamdhenu Engineering SEZ, especially for the project.
Strategically located on the northwest periphery of Delhi, the SEZ is connected with the National Highway-1 and the proposed Kundli-Manesar-Palwal Expressway.
“Sonepat being the gateway to the major business towns of Punjab, the SEZ will attract export oriented units from Punjab. Located in the hub of manufacturing sector in north India, the SEZ will meet the pent-up demand of the industrial sector for space in the area,” the company said in a statement.
“An important factor behind the development of the engineering-based SEZ is that the engineering industry in Sonepat contributes substantially to the total exports in the country. Given the demand for Indian engineering products in the developed and developing economies, existing units are looking at options to expand and set up new units,” it said.
The SEZ will have prescribed processing and non-processing zones. The non-processing zone will include residential complexes, and the processing zone will house manufacturing and engineering units across all industry domain.
APIL chairman Sushil Ansal said: “The notification of the SEZ has come at an appropriate time when the manufacturing sector has been looking at new avenues of growth. This SEZ will generate employment opportunity and create export option for the national economy.”
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Tags: ansal properties, apil, developing economies, engineering products, export option, formal approval, grand trunk road, indian engineering, industry domain, infrastructure ltd, kundli, manufacturing sector, national economy, new avenues, north india, oriented units, processing zone, residential complexes, residential houses, special economic zone