NewswireToday - /newswire/ -
Mumbai, Maharashtra, India, 2012/02/24 - Adani Group firm Adani Ports and Special Economic Zone (APSEZ) is planning to set up its second multi model SEZ in Haryana adding to its infrastructure projects portfolio - Infrawindow.com.
The group has chalked out a detailed plan for the project and will soon approach the authorities for necessary approvals, a source close to the development said.
“APSEZ is planning to set up one of the largest SEZ in the country in Haryana. This multi-model SEZ will be set up near Delhi-Jaipur highway with an approx area of over 5,000 acre,” source said without disclosing any financial details of the project. The proposed SEZ will connect through both railway and road networks. “Our rail network from Mundra to Delhi will also connect with the proposed SEZ,” he said.
The proposed SEZ in Haryana will aim to attract next-generation businesses, apart from basic industries.
The areas that could be successfully developed in this SEZ infrastructure project are automobiles, auto components, agro based industry, biotech, IT and garments.
Adani Ports and Special Economic Zone Limited (APSEZ), India’s largest private port and special economic zone, was incorporated as Gujarat Adani Port Limited (GAPL) in 1998 to develop a private port at Mundra, on the west coast of India. The company commenced commercial operations in October 2001. Mundra Special Economic Zone Limited (MSEZL) was incorporated in November 2003, to set up an SEZ at Mundra. MSEZL was merged with GAPL in April 2006 and the company was renamed as Mundra Port and Special Economic Zone Limited, to reflect the nature of business. The board of MPSEZL on Nov 21,2011 has approved a proposal to change the company's name to Adani Ports and Special Economic Zone Ltd. and this change in name from MPSEZL to APSEZL has come into effect from Jan.6,2012.
A Special Economic Zone (SEZ) is a geographical region that has economic and other laws that are more free-market-oriented than a country's typical or national laws. "Nationwide" laws may be suspended inside a special economic zone. The category 'SEZ' covers infrastructure projects, including Free Trade Zones (FTZ), Export Processing Zones (EPZ), Free Zones (FZ), Industrial parks or Industrial Estates (IE), Free Ports, Urban Enterprise Zones and others.