Mumbai: Realty major Parsvnath Developers today said it has received government approval for setting up an IT/ITeS Special Economic Zone at Dehradun in Uttarakhand for an investment of Rs 1,050 crore.
“The project will be executed by our subsidiary, Parsvnath SEZ Ltd. It will cater to the specialised needs of investors keen on setting up the world-class IT facilities in the region,” Parsvnath Developers Chairman Pradeep Jain said in a notice to BSE.
With this approval the company now has three notified product specific SEZ at Indore, Gurgaon and Dehradun.
The company also has two approved SEZs at Kochi and Hyderabad spread over 11.11 million sq ft, which is awaiting the Centre’s approval.
The company also has six SEZs with total area of 270 million sq ft, which has received in-principal approval from the Centre.
The total area for the Dehradun SEZ would be 35 acres with a total developable area of 3.8 million sq ft. The SEZ would provide infrastructure availability for the development of IT/ITeS related offices and industries in this high potential, unexplored region, Parsvnath informed BSE.
Shares of the company were trading at Rs 357, up 2.60% on BSE in afternoon trade.