Punjab government has approved Anil Ambani Group's Rs 5,000-crore (Rs 50 billion) multi-product special economic zone in the state.
The proposal of Reliance One World was among the 43 mega projects approved by Punjab's Empowered Committee, headed by Punjab Chief Minister Amarinder Singh on Thursday, a state government spokesperson said.
The proposed SEZ is likely to be set up over an area of 5,000 acres and is expected to involve direct investment in excess of Rs 5,000 crore. It would have food and agri product units, auto and engineering industries and garments and apparel manufacturing plants.
The approval comes close on the heels of super mega agri product SEZ being developed by Mukesh Ambani-managed Reliance Industries.
The committee approved the proposal of Class India Limited, a 100 per cent subsidiary of Class KGaA MbH Germany, to set up a Greenfiled Facility in the state.
The project would come up either in the free economic zone or on Kharar-Morinda-Ludhiana Road or adjoining area for manufacturing combined harvesters and agri machinery components for global sourcing, the spokesman said.
The project would be set up over 10 hectares of land with total project cost of Rs 112.24 crore (Rs 1.12 billion).
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