Centre approves Hyderabad gems SEZ project
The central government has approved the Rs 500 crore Hyderabad gems Special Economic Zone promoted by Gitanjali Gems.
By PTI |
NEW DELHI: The central government has approved the Rs 500 crore Hyderabad gems Special Economic Zone promoted by Gitanjali Gems.
The project would see setting up of a 200 acre Rajiv Gems park in Shamshabad near Hyderabad, a statement from Gitanjali Gems said, adding the project will have an estimated turnover of Rs 5,000 crore.
Earlier, the Andhra Pradesh government had approved and allotted land for the project and work on the first phase had commenced in November 2005, it said.
"The central government's swift approval is a reiteration of its commitment to progress and development of the industry. It encourages us in our endeavours and spells good news for the industry. The AP governments support has ensured that project work is on with full speed," Gitanjali Gems CEO Mehul Choksi said.
The Hyderabad gems SEZ is partly funded by the company and would be third of its kind after Surat and Kolkata.
The project would see setting up of a 200 acre Rajiv Gems park in Shamshabad near Hyderabad, a statement from Gitanjali Gems said, adding the project will have an estimated turnover of Rs 5,000 crore.
Earlier, the Andhra Pradesh government had approved and allotted land for the project and work on the first phase had commenced in November 2005, it said.
"The central government's swift approval is a reiteration of its commitment to progress and development of the industry. It encourages us in our endeavours and spells good news for the industry. The AP governments support has ensured that project work is on with full speed," Gitanjali Gems CEO Mehul Choksi said.
The Hyderabad gems SEZ is partly funded by the company and would be third of its kind after Surat and Kolkata.
Download
The Economic Times Business News App for the Latest News in Business, Sensex, Stock Market Updates & More.
The Economic Times Business News App for the Latest News in Business, Sensex, Stock Market Updates & More.
Download
The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
ADVERTISEMENT
