Videocon Group is planning to set up nine special economic zones in Maharashtra, West Bengal, Gujarat and Karnataka with a total area of over 12,000 acres.

J M Morgan has been appointed as advisor in setting up infrastructure projects for the group across the country.

The group is likely to sign an MoU with the Maharashtra government on 19 September 2006 for setting up two SEZs in Pune (3,000 acres) and in Aurangabad (6,600 acres). The Pune SEZ will be a multi-product one and the Aurangabad SEZ will be partially for floriculture and horticulture including large scale orchid farms for export to US and Europe.

The initial investment for the SEZs in Maharashtra will be around Rs.2,000 crore which might increase to Rs.25,000 crore. The SEZs will create employment for 50,000 people in Pune and 75,000 in Aurangabad.

The maximum number of SEZs will be set up in West Bengal, with the total size of over 2,300 acres. These include - two multi-product SEZs - one each in North 24 Parganas and Howrah district, a food processing and an IT zone at Siliguri, sector specific zone in North 24 Parganas.

Videocon will also set up one SEZ each in Gujarat and Karnataka which are yet to be finalised. The SEZ in Gujarat may come up near Gandhinagar on 100 acres of land.