A special purpose vehicle for implementing the
Mangalore special economic zone project will be formed by 15 January 2006,
according to Karnataka Minister for Finance & Industries, Mr PGR Shindia.
Discussions between Oil & Natural Gas Corporation
and the Karnataka government have been held, it is learnt. ONGC is the lead
investor, having outlined investment of Rs.26,000 crore in various units within
the Mangalore SEZ.
The minister also stated that modalities relating
to the SPV formation are in the final stages.
Also See:
PM clears ONGC's
mega investment plan (25-Jul-05)