Parsvnath inks MoU with MP govt for Indore SEZ

New Delhi: Real estate firm Parsvnath Developers Ltd on Monday said it has entered into an agreement with Madhya Pradesh government for expeditious and unhindered development of its 76-acre SEZ at Indore.

Parsvnath SEZ Ltd (PSL), a subsidiary of the realty firm, signed a memorandum of understanding (MoU) with the MP government for the proposed SEZ, which is being developed by the company with an investment of Rs 2,100 crore.

'The MoU will not only facilitate, but also ensure an expeditious and unhindered development of the SEZ at Indore,' Parsvnath Chairman Pradeep Jain said in a statement.

An important highlight of the MoU is that the state government will facilitate an approach road to the SEZ site as per the Master Plan, and will provide electricity and water on priority basis and PSL will start work to develop the proposed built-up area of 18.74 million sq ft.

The agreement would ensure that rules and policies of the state for providing and promoting single-window clearance are made available to the SEZ, which was notified recently, it said.

This would also help PSL avail incentives and facilities under various schemes announced by the state or central government.

The SEZ, once completed, will offer approximately 40,000 direct and indirect employment opportunities, the company said.