Projects today reported that Modern India Free Trade Warehousing, a flagship company of Modern India has received an in principle approval from the Union government for its warehousing
SEZ planned at Panvel in Raigad district of Maharashtra.
The planned SEZ is 18 kilometer away from Jawaharlal Nehru Port Trust and 9 kilometer to 10 kilometer away from the new international airport. The SEZ entailing an investment of INR 375 crore will spread over 40.47 ha.
Modern India has to acquire land for the SEZ and start the process of financial closure. It is in discussions with logistic companies in Japan, West Asia and China to enlist them as partners in the project. In the warehousing SEZ, people can import, repair, repack and export products from the zone itself.
As per report, it has also received approval for setting up an IT SEZ in Khopoli. The real estate company will invest around INR 1,100 crore, of which INR 450 crore will be debt and the remaining will be equity. It will create infrastructure for both hardware and software industries in the upcoming IT SEZ.
Source : Projects today