Reliance Industries (RIL) will sign a deal with Haryana State Industrial Development Corporation (HSIDC) on Monday, June 19 to set up a Rs 25,000 crore Special Economic Zone (SEZ) that would boast of a dedicated airport and a 2,000 MW power plant.Besides the Rs 25,000 crore it would pump in into the SEZ, touted as India's largest, Reliance would seek additional investment from third parties totalling Rs 1,00,000 crore.The agreement for the project, which received in-principle approval from the central government in March, state Cabinet clearance in May and subsequently triggered political heartburn, was deferred at least twice prompting the Congress government to deny any political motive behind the delay."There is no political motive behind this delay," chief minister Bhupinder Singh Hooda had said last week, dismissing speculation that the Congress high command had raised concerns about the project following party MP Kuldeep Singh Bishnoi's opposition to it.Hooda said the signing of the deal, earlier scheduled for June 12, was postponed at the request of RIL chief Mukesh Ambani.Under the agreement, RIL and HSIDC would create a special purpose vehicle, which would acquire 25,000 acres of land for the multi-product SEZ.Initially, Haryana will trasnfer 1,715 acres to the SPV for the project, which would be spread between Garhi Harsaru and Jhajjar.The project is expected to generate five lakh jobs and bring in revenue of Rs 10,000 crore annually.
