Indiabulls to develop SEZ near Nashik

Indiabulls Group, a diversified entity, will develop a Special Economic Zone (SEZ) at Sinnar near here in association with the Maharashtra Industrial Development Corporation (MIDC).

The SEZ, to be located in the industrial corridor of Nashik, Sinnar and Igatpuri, will come up on 2,500 acres of land, Kishore Gajabhiye of Indiabulls who is heading the project told reporters here last evening.

Indiabulls is a leading player in financial sector, real estate and energy services.

The multi-product enclave will have units related to auto components, medicine production, food, engineering, information and technology among others. It will also house an international trading centre, hotels, schools, entertainment park and hospital, he said.

He, however, did not give the estimated investment or time-frame of the project. This will be Indiabulls' third SEZ after Mumbai and Pune.

The Group's proposed 1,335 MW Thermal Power Project at
Sinnar was likely to see investments of Rs 25,000 crore and
create thousands of jobs, Gajabhiye said.

Of the total power generation, 950 mw will be given to Maharashtra State Electricity Distribution Company Ltd, he said.