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Mangalore SEZ: SPV by 15 Jan

Friday, 30 Dec 2005
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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)

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