Chandigarh In a major step towards setting up India's largest Special Economic Zone, Reliance Industries' supremo Mukesh Ambani will sign a deal on Monday with the Haryana government for a project that would see total estimated investments of Rs 1,25,000 crore over the next few years.
Ambani will be in Haryana on Monday for signing the joint venture agreement with Haryana State Industrial Development
Corporation for the multi-product SEZ that is spread over 25,000 acres.
RIL, country's largest corporate entity, would itself pump in Rs 25,000 crore in the venture and expects another Rs 100,000 crore investments by units located in the zone.
The company has already developed a master plan, which envisages development of a fully integrated city having an airport, rail linkages including those from the Delhi Metro, an International Container Depot and adequate supply of power, water and communication facilities, said sources.
The zone would be used for industrial, commercial, institutional and residential purposes.
The zone is expected to generate employment for more than two lakh people and would house up to four lakh residents.
RIL plans to rope in low polluting industries with thrust on knowledge-based sectors such as pharma, electronics and telecom besides trading and services.
The industrial units would be allocated up to 25 per cent of the total land.
The commercial segment would be given an area of about 20 per cent and residential area would comprise of approximately 15 per cent of the total land area.
Sources said the agreement, to be signed with RIL's wholly-owned subsidiary Reliance Ventures Ltd, would include transfer of about 1,500 acres of land in Gurgaon to the joint venture company.
RIL Director Anand Jain would sign the joint venture in which HSIDC would have a minority share.
Besides the airport that would be spread over an area of up to 4,000 acres, the zone would include a world-class hospital, tourism, educational institutions including universities, shopping malls, hotels, clubs, theme parks and sports centres.
RIL might also tie up with global giants such as Disney, Time Warner or Universal to establish theme parks and entertainment centres for attracting domestic and foreign tourists, sources said.
While Reliance has firmed up the zone's development plan, it also wants a number of facilities, incentives and support from the Haryana government.
Sources said the company has asked the state government to ensure adequate quantity of electricity (about 400 MW) and water (100 cusecs). It has also sought fiscal incentives such as tax exemptions on equipment and services used for the development of the SEZ.
RIL also wants a waiver on payment of stamp duty and registration charges for transfer of land, sources said, adding the company would invest about Rs 3,000 crore for acquiring land and another Rs 10,000 crore for development works such as roads, parks, sewage and electricity lines.
Further, the company also wants a separate judicial bench for settlement of disputes within the territory, a single window clearance mechanism, an appropriate law and order machinery under the Development Commissioner and flexibility in labour laws.
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