Sterling to build SEZ in Gujarat
Sterling Biotech is planning to set up a multi-product Special Economic Zone (SEZ) at Jambusar in Gujarat, with a proposed investment of Rs 1,600 crore.
By Amiti Sen and G Ganapathy Subramaniam, TNN |
NEW DELHI: Sterling Biotech is planning to set up a multi-product Special Economic Zone (SEZ) at Jambusar in Gujarat, with a proposed investment of Rs 1,600 crore. The project is expected to provide employment to approximately 2 lakh people and will be spread over an area of 3,380 hectares. The SEZ will be developed by Sterling Erection and Infrastructure Private (SEIP), a special purpose vehicle set up by the Sterling Biotech group. The proposed investment includes equity capital of Rs 500 crore, debt of Rs 1,000 crore and Rs 100 crore from advances towards acquisition of plots by users.
Priority sector industries like petrochemicals, ferro alloys and ceramic, copper, bio-diesel and chemicals will feature in the SEZ, along with other export-oriented secondary ones like steel, sponge iron, aluminium, clinker and grinding. The total estimated investment would be in the range of Rs 30,000 crore.
According to the application, exports from the zone would be Rs 3,000 crore per year in the initial 3-4 years, which is expected to increase to Rs 10,000 crore per annum when optimum capacity utilisation is achieved. The SEZ application is for in-principle approval as land has not yet been acquired by SEIP.
Priority sector industries like petrochemicals, ferro alloys and ceramic, copper, bio-diesel and chemicals will feature in the SEZ, along with other export-oriented secondary ones like steel, sponge iron, aluminium, clinker and grinding. The total estimated investment would be in the range of Rs 30,000 crore.
According to the application, exports from the zone would be Rs 3,000 crore per year in the initial 3-4 years, which is expected to increase to Rs 10,000 crore per annum when optimum capacity utilisation is achieved. The SEZ application is for in-principle approval as land has not yet been acquired by SEIP.
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