RIL buys 9,000 acres for Haryana SEZ

Pays Rs 2,200 cr for acquisition of land.

Reliance Industries has acquired 9,000 acres in Haryana at Rs 2,200 crore for setting up the country's largest multi-product special economic zone (SEZ), which, when completed, will be spread over 25,000 acres.

The company, which floated a joint venture with Haryana State Industrial and Infrastructure Development Corporation for the project in June last year, paid Rs 400 crore to the Haryana government for a portion of land acquired from it, official sources said.

They said the Mukesh Ambani-led company had also identified the site for a 2,000 Mw power plant that is proposed to be set up as part of the SEZ.

The power plant was expected to come up near Rohtak, the sources said, adding that a round of intense discussions was held last week between officials of the company and the state government on the power project, which could involve an investment of Rs 7,500 crore.

While the money will be infused in phases, the company is understood to have initiated talks with power equipment and machinery manufacturers, including GE, Alstom, BHEL and ABB. Former NTPC Chairman DV Kapoor is overseeing the power project.

Reliance Industries will be investing Rs 25,000 crore, besides attracting third party investments to the tune of Rs 100,000 crore for the SEZ project that will also house a cargo airport. The zone would be spread between Garhi Harsaru and Jhajjar.

Reliance Industries hopes to develop the SEZ as a world-class hub for manufacturing, services and agro-based industries and also focus on new economy sectors like nano-technology and biotechnology.

Reliance Industries holds 90 per cent stake in the joint venture company, while HSIIDC holds the remaining stake.

The company had already developed a master plan, which envisaged development of a fully integrated city having an airport, rail links, including ones from Delhi Metro, an international container depot and adequate supply of power, water and communication facilities, officials said.

Reliance Industries might also tie up with global giants such as Disney, Time Warner or Universal to establish theme parks and entertainment centres for attracting tourists.

Sources also said Reliance Industries was hoping to complete the entire land acquisition by the end of this year.