Indiabulls to develop 2,500-acre SEZ near Nashik

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

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

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

The company, however, did not give the estimated investment or timeframe of the project. This will be Indiabulls' third SEZ after Mumbai and Pune.

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

Of the total power generated, 950 MW will be given to Maharashtra State Electricity Distribution Company, he added.

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