Parsvnath Developers Limited (PDL), India’s leading Real Estate Company with Pan India presence having diversified portfolio through its subsidiary, Parsvnath SEZ Limited (PSL) is setting up a pharmaceutical SEZ in Nanded, Maharashtra. The Bhoomi Puja ceremony and foundation stone laying was performed in the presence of Mr. Ashok Chavan, Minister for Industry, Cultural Affairs, Parliamentary Affairs & Mines, Government of Maharashtra and senior officials of Maharashtra Industrial Development Corporation (MIDC)

The Pharmaceutical SEZ, located in Krushnoor Industrial Area of Nanded, Maharashtra, spread over a total area of 370 acres is being developed in JV with MIDC. It is worthwhile to note that in the JV with MIDC, PSL holds 74% stake while later holds 26%.

Speaking on the occasion, Mr. Ashok Chavan said, “The SEZ will help bringing in FDI and will fuel exports from the region. We complement PDL, in pioneering the concept of Pharma SEZ in our state. It will create substantial direct & indirect employment. The excellent facility, I am confident, will attract many global Pharma majors to set up their latest ventures at Nanded.”

Commenting on the occasion, Mr. S N Sharma, Director, PSL said, “This pharmaceutical SEZ is the platform to provide a globally competitive environment to the pharmaceutical exporters in the country. It is our second SEZ project in the state of Maharashtra. We have requisite expertise in designing, planning & developing SEZs and our JV with MIDC will also help us in further developing an identified anchor unit of 20 hectares owned by MIDC. This SEZ which is proposed to be a service oriented self contained Estate which will benefit the region in the form of employment, infrastructure development and exports additionally generated in the area.”

The company has plans to develop over 367 million sq. feet area for its presently planned 17 SEZ projects in various segments like Pharma, Biotech, IT/ITES, Gems and Jewellery, Handicrafts, Leather, Food Processing and Automotive sectors apart from Multi-product SEZs, which are in different stages of development. Of these projects, four SEZs have been notified by the Ministry of Commerce and Industry, Government of India.

The Pharma project to be set up by JVC named as `Parsvnath MIDC Pharma SEZ Private Limited, is strategically located very near to the Nanded-Hyderabad State Highway SH-6 with easy availability of all infrastructural requirements for setting up a pharmaceutical SEZ. Nanded houses the famous Takat Sachkand Sri Hazur Abchalnagar Sahib.

Sourced From: Adfactors Public Relations Pvt Ltd

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