Uppal group gets nod for first multi-product SEZ

Sanjay SinghPosted online: Saturday, October 14, 2006 at 0000 hrs Print
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New Delhi, October 13: The New-Delhi based Uppal group has got a
gazetted notification from the central government that allows it to
begin construction work on its 263-acre special economic zone (SEZ)
situated in Gurgaon. “We are the first developer in the country to have
got a gazetted notification for developing a multi-product SEZ,” said
Manish Uppal, MD, Uppal Group.

Uppal's SEZ is situated 8 km from Manesar in Haryana on NH-8. It is a
multi-product SEZ that will host knowledge industries like IT-ITeS,
biotech, robotics, nanotech and other R&D-focused operations. It will
also offer warehousing facilities and incubation service (a
ready-to-move-in facility from which a newly-arrived MNC can operate
while its permanent office is being readied).

The group will invest an estimated Rs 6,500 crore on developing
approximately 22 million sq ft of built-up space here. “We are in talks
with foreign developers and real estate venture funds for equity
participation in this project,” said Uppal.

The detailed masterplan for this project will be ready by end-November
after which sale of space will begin.

The company's representatives are presently in London looking for an
architecture firm which will create the detailed master plan for this
project, the construction of which will begin in January 2007 and will
be completed in five years.

In addition, it is looking at developing a second, 62-acre SEZ whose
site is 3.5 km before Manesar. The group already owns the land for this
project.

“The state government is doing the due diligence on the land title. We
hope to get the notification for this project within a month,” said
Uppal. This single-product SEZ will focus on the IT-ITES sector.

sanjay.singh@expressindia.com
http://www.indianexpress.com/story/14624.html