New Delhi: Mukesh Ambani-led Reliance Industries is planning to bring in a strategic business partner in its Haryana SEZ project to maximise investment potential in the joint venture unit.
Created to develop special economic zones in the northern
state, Reliance Haryana SEZ Ltd is a joint venture between
Reliance Ventures Ltd, an RIL subsidiary, and Haryana State
Industrial Investment Development Corporation (HSIIDC).
"The company plans to engage a strategic business
associate to help maximise the potential of the investments
made so far and make the SEZ a truly global investment
destination," RIL informed its shareholders about Haryana SEZ
in its annual report for 2008-09.
RIL said that Haryana SEZ would function as an integrated
package with all the required facilities ensuring sustainable
development of medium and large scale industries and service
activities with sufficient provision for future growth and
expansion.
The SEZ was to originally come up on 10,000 hectares at
an investment of over Rs 25,000 crores, but the size was
scaled down to 5,000 hectares after the government put a cap
on land acquisition for such projects.
RIL and Haryana government had entered into a deal in
2006 for setting up the multi-product SEZ, at that time billed
as India's largest and expected to attract about Rs 1,00,000
crore of third-party investments.
At that time, RIL Chairman Mukesh Ambani had said that
the JV company would be listed on the bourses.
Bureau Report
First Published: Friday, October 23, 2009, 16:58