Reliance Industries led by Mukesh Ambani received approval from the government for special economic zone (SEZ) projects in Haryana. Proposed to be spread cross 10,000 hectare apart from 25 others, the project can now commence construction, reports Times of India.
However, the empowered group of ministers (EGM) capped the maximum size of a zone at 5,000 hectare, the board of approvals (BoA) cleared the Reliance (Q, N,C,F)* proposal, apprehending a multi-services zone, to be spread over 440 hectare.
The company official said that, this is only the initial approval to enable Reliance to start work over the next two-three months.
As of now, the company`s received allotment of 440 hectare land near Gurgaon and another 3,000-3,200 hectare land near Jhajjar.
BoA also approved in-principle its port-based project in SEZ Rewas Ports in Raigad, Maharashtra to Reliance.
A decision on Reliance Navi Mumbai SEZ was postpone last week on concerns expressed by the revenue department and JNPT, while the Maha Mumbai SEZ is held up on concerns over land acquisition.
Shares of company gained Rs 3.45, or 0.20%, to settle at Rs 1,745.40 at the BSE. The total volume of shares traded was 1,810,873 (Tuesday).
Posted By Staff Reporter: Gurgaon City News
in Gurgaon News
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