Real estate developer Ansal Properties & Infrastructure Ltd has received formal approval from the Department of Commerce(SEZs), Government of India to develop an engineering-based special economic zone.
The SEZ spread over 250 acres is coming up on the Amritsar -New Delhi Grand Trunk road. A separate subsidiary - Ansal Kamdhenu Engineering SEZ- has been set up specially for the project. The company will invest Rs 900 crore in the project. The SEZ will have the prescribed processing and non-processing zones. the non-processing zones will include residential complexes and the processing zone will house manufacturing and engineering set ups across all industry domain. Located in the hub of manufacturing sector in North India (Sonepat), the SEZ will meet the pent up demand of the industrial sector for space in the area, a company release said.
"The notification of the SEZ has come at an appropriate time when the manufacturing sector has been looking at greater avenues of growth. this SEZ will generate employment opportunity and create export option for the national economy," Sushil Ansal, Chairman, Ansal API said.
