Parsvnath SEZ (PSL), a subsidiary of
Parsvnath Developers has received a letter of intent (LoI) from Maharashtra
Industrial Development Corporation (MIDC) to develop pharmaceutical special
economic zone (SEZ) at Nanded in Maharashtra.
The company along with MIDC will float
a special purpose vehicle to implement the project, which will be spread over
370 acres of land. PSL will hold 74 per cent stake in the joint venture, while
MIDC will hold 26 per cent.
The Nanded Pharma SEZ has already been
approved and notified by the Government of India.
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