Sterling Biotech is planning to set up
a multi-product special economic zone at Jambusar in Gujarat with an investment
of Rs.1,600 crore.
The proposed SEZ to come upon an area of
3,380 ha (around 8,350 acres) of land will be developed by Sterling Erection
& Infrastructure Pvt Ltd, a special purpose vehicle set up by Sterling
Biotech group.
The proposed investment includes
equity capital of Rs.500 crore, debt of Rs.1,000 crore and Rs.100 crore from
advances towards acquisition of plots by users.
Industries such as petrochemicals,
ferro alloys and ceramic, copper, bio-diesel and chemicals will be developed in
the proposed SEZ along with other export-oriented secondary industries like
steel, sponge iron, aluminium, clinker and grinding.
The project is expected to provide
employment to approximately 2 lakh people.
Related Links:
Project
profile