The world's second largest forgings company Bharat Forge has been accorded an in principle approval for its proposed autoparts Special Economic Zone (SEZ). |
The decision was made by the Union ministry of commerce in its meeting on Friday. Top Bharat Forge officials were unavailable for comment. |
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The company is believed to have filed the proposal to set up a 5000-acre SEZ in accordance with central government policy to encourage SEZs by offering to them financial incentives. |
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Bharat Forge's SEZ will come in the wake of two others including the biotech SEZ commissioned recently by Pune-based Serum Institute of India and another planned by MIDC at Hinjawadi, near Pune. |
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MIDC has also proposed one SEZ in Navi Mumbai where Mukesh Ambani is believed to have made significant investments. Details of Bharat Forge SEZ could not be ascertained attempts to reach the Bharat Forge Director Amit Kalyani failed. |
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