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Reliance to Exit Haryana SEZ

Reliance Industries mulling to exit Haryana SEZ project

S.P.S. Pannu

New Delhi

January 17, 2012    

Reliance Industries Ltd (RIL) appears to be pulling out of the its special economic zone (SEZ) project near Gurgaon as the company is in the process of informing the Haryana government that it is ready to hand back 1,400 acres of land allotted to it for setting up the venture.

RIL's Haryana SEZ was being set up through a special purpose vehicle (SPV) in which RIL had a 90 per cent stake while the Haryana State Industrial and Infrastructure Development Corp Ltd (HSIIDC) held the remaining 10 per cent as sweat equity.
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