DLF, Punjab sign MoU for SEZ in Amritsar

The country's leading real estate developer DLF and the Punjab government have signed the Amritsar SEZ deal.

DLF Universal Chief Executive Yogesh Verma and Punjab Industries and Commerce Director Sanjay Kumar signed an MoU here on Friday, in the presence of Punjab Chief Minister Amarinder Singh, Principal Secretary (Industry) Subodh Aggarwal and DLF Universal Vice-Chairman Rajiv Singh.

DLF's SEZ project in Amritsar will be one of the first special economic zones in the country to commence commercial operations. The commerce ministry's "Board of Approvals" had, in its meeting held on March 17, 2006, given the project an principle approval.

Spread over 1100 acres, the entire SEZ will comprise of four sector-specific zones for the textile and garments industry (400 acres), engineering industry (350 acres), food processing industry (250 acres) and a free trade and warehousing zone (100 acres).

Talking to mediapersons, DLF Universal Ltd Vice-Chairman Rajiv Singh said, "DLF is proud to be associated with this prestigious project of the government of Punjab. This SEZ in Amritsar is a significant step towards the development of the state and we are thankful to the government for choosing us. We are fully confident of developing this prestigious infrastructure development project to world-class standards. This project will put Amritsar on the world stage of industry and investment as well as facilitate border trade with neighbouring countries."

"DLF will be investing Rs 1,000 crore towards the development of this project. The project will also catalyse an investment of about Rs 5,000 crore in urban development and associated infrastructure. It will create over 25,000 employment," Singh said.