Rockman Projects plans Rs 6k-cr SEZs

GUNJAN PRADHAN SINHA

TIMES NEWS NETWORK[ MONDAY, DECEMBER 18, 2006 03:16:38 AM]

NEW DELHI: Delhi-Based real estate group Rockman Projects is planning to
set up three SEZs in the northern region with a proposed investment of
Rs 6,000 crore. The company has tied up with Ernst & Young, CB Richard
Ellis and Jurong International of Singapore for technical collaboration.

The company is slated to float an IPO by March next year to raise funds
for investment. With all clearances got, the company plans to set up a
multi-product SEZ at Jaipur, a multi-service SEZ at Gurgaon and a
textile cluster in Ludhiana.

Jurong International will look into the set up design and master plan of
the three SEZs. While nothing is finalised the company is in talks with
Jurong International for picking up a stake in one of the three
ventures. Ernst & Young will provide advisory services to the firm on
the professional management of the SEZs and will also help the projects
seek participation from other players. On the other hand CB Richard
Ellis will look into the financials of the project including the
feasibility study and raising funds through both foreign and Indian
investors.

So far the company has invested Rs 600 crore in the acquisition of land
in the three states. While the land has been fully acquired in Gurgaon,
the transfer formalities for Jaipur and Ludhiana are yet to be done. The
SEZ in Jaipur will be spread over 1,012 hectares and will be a located
on NH8.

The Gurgaon SEZ will be spread over 1,615 hectares and will also be
located on NH8, while the Ludhiana SEZ is comparatively smaller with a
spread of 850 hectares.

Most of the land purchased has been from individuals and is wasteland.
The company has got all the requisite 36 approvals for the three SEZs
and is likely to start development work by March next year.

http://economictimes.indiatimes.com/articleshow/828736.cms