Reliance Haryana SEZ aims to draw Rs 100,000 cr investment

Reliance Industries plans to invite third party investments of up to Rs 100,000 crore for developing the proposed 25,000 acre Haryana special economic zone.

The zone will be located off National Highway 8 in Gurgaon, bordering west Delhi, and moving northwards into Jhajjar district, adjacent to the Kundli-Manesar-Palwal (KMP) Expressway.

Reliance has estimated that it will invest up to Rs 25,000 crore in the zone (which works out to an average cost of Rs 1 crore per acre). Of this, the cost of acquisition of land is pegged at Rs 3,000 crore, at the average estimated cost of Rs 12 lakh per acre.

The remaining expenditure is intended for development of the land and vital infrastructure.

A key showpiece of the proposed zone, which has not yet been cleared by the state government, is an airport spread over 1500 hectare of land that will be accessible from Delhi. The project has already been cleared by the central government's Board of Approvals for SEZs.

A memorandum of understanding between Reliance Industries and the Haryana government is now expected to be signed on June 19. It was earlier scheduled to signed on June 12, but was postponed at the last moment due to political opposition to the project.

In fact, Congress MP from Bhiwani Kuldeep Bishnoi, who had opposed the project, is expected to file a reply to a notice from the party high command on Friday. In order to ensure that land prices do not escalate