M&M plans Rs 1,100-cr SEZ in Jaipur

Project likely to create direct & indirect employment for around 2.50 lakh people.

Mahindra & Mahindra announced plans to set up a special economic zone at Jaipur that is projected to attract investments of Rs 1,100 crore. It is expected to create direct employment for 100,000 people and indirect employment for 120,000-150,000 people.

The SEZ will be executed by a special purpose vehicle, Mahindra World City Jaipur Ltd, formed by Rajasthan State Industrial Development & Investment Corporation and Mahindra-Gesco Developers Ltd. The SEZ will be spread over 3,000 acres. Its first phase of 129 acres will be completed in six months.

Progeon, the business process outsourcing arm of Infosys Technologies, has become the first client of this SEZ. It will take up 100,000 square feet.

M&M already has an SEZ in Chennai spread over 1,400 acres in partnership with Tamil Nadu Industrial Development Corporation.

"We are looking to set up two more SEZs, one each in western and eastern India. For the west, we will announce something soon," said Anand Mahindra, M&M's vice-chairman and managing director.

M&M is believed to be talking to two state governments in western India for setting up an SEZ.

"It has been our constant effort to bring world-class facilities to India. Mahindra World City at Chennai in southern India has showcased our abilities to do so. The Jaipur project will offer the northern region a role model in such developments," Mahindra added.