Leading realty developer Ansal Properties & Infrastructure Ltd said it will invest Rs 900 crore for developing a 250-acre engineering-based Special Economic Zone at Sonepat in Haryana.
“We are happy that Ansal API will fill up a long pending demand for space in the fast developing area of Sonepat. The notification of the SEZ has come at an appropriate time when the manufacturing sector has been looking at new avenues of growth,” Ansal API Chairman Sushil Ansal said.
The SEZ would generate employment opportunity and create export option for the national economy, he added.
The project would come up on the Amritsar-New Delhi Grand Trunk Road and would be developed through company’s subsidiary Ansal Kamdhenu Engineering SEZ, the realty firm said in the statement.
“Given the demand for Indian engineering products in the developed and developing economies, the existing units are looking at options to expand and new units plan to set up here,” the statement said.
The SEZ would have prescribed processing and non-processing zones, where the non-processing zone would include residential complexes, while the processing zone would house manufacturing and engineering set ups across all industry domain.
One Comment
Real estate market in India is on the upswing while builders in India are rapidly investing in all the parts of the country. New constructions in this field are into an all-time growth. Indian property developers are buying plots in large number for construction of townships and residential complexes.