Omaxe plans SEZ in Rajasthan

Realty firm Omaxe has signed a memorandum of understanding with the government of Rajasthan for setting up a multi-product special economic zone (SEZ) at Alwar in Rajasthan.

Omaxe has promoted a wholly-owned subsidiary, Omaxe Rajasthan SEZ Developers, by making an investment of Rs 5 lakh. The proposed SEZ, which will be spread over 5,000 hectares (12,500 acres approx) in Alwar, Rajasthan, has got in-principle approval from the ministry of commerce and industry.

The SEZ will be set up over an estimated period of five years, and is expected to generate direct and indirect employment for approximately six lakh people in the state.