Reliance Industries Ltd (RIL) is yet to take a final decision on roping in a new partner for the Haryana SEZ coming up in Gurgaon and Jhajjar. While speculations are on that the company is in talks with Infrastructure Leasing & Financial Services (IL&FS) and the modalities are being worked out, sources in Haryana State Infrastructure and Industrial Development Corporation (HSIIDC), the joint venture partner in Reliance Haryana SEZ, informed FE that so far the corporation has not received any formal notice fromRIL about the issue.
“Things are likely to be clear once RIL takes a final call on the issue and inform us about the development. After that the steering committee meeting will be held and decision will be taken about the ownership share and other things,” said a senior HSIIDC official.
However, RIL, while accepting that plans are on to engage a strategic partner, maintained silence about the name. Reliance Industries spokesperson said, “The company plans to engage a strategic business associate to maximise the potential of the investments made so far and make the SEZ a truly global investment destination.”
“We have about 10,000 acres of land in possession in two districts and are currently focusing on getting requisite permissions, statutory approvals and clearances, transfer of legal titles, contiguity and financial closure to start the operation. The company has so far invested over Rs 3,000 crore in the project. The project is envisaged to be developed as a fully integrated Industrial Township to attract global and domestic investments.” he added.
The HSIIDC official further said that the company has approached the corporation for acquiring about 1,700 acres of land in Jhajjar for maintaining contiguity. “We have also recommended that Reliance SEZ be developed as a nod under the Delhi-Mumbai Industrial Corridor project. It will facilitate better industrial development within the SEZ,” he said.
Reliance has also filed for seeking a fresh in-principal approval for its Gurgaon SEZ, after the Centre refused to extend the same in December last year, as SEZ rules don’t permit giving third extensions. The approval is yet to come from the Centre.
The Inter-ministerial Board of Approval (BoA) had asked RIL and ten other developers to apply afresh along with respective state governments’ recommendations.
Reliance Haryana SEZ was granted the in-principle approval in March 2006 and the proposals were valid till March 2009 after two extensions.
Source:http://www.financialexpress.com/news/RIL-yet-to-rope-in-partner-for-Gurgaon--Jhajjar-SEZ/574165/
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