2 more companies to invest Rs 100 crore to set up units at Sinnar SEZ

The multi-product Special Economic Zone (SEZ) at Sinnar, 35km from Nashik, has caught the fancy of investors with two more companies set to build their facilities here for a total investment of Rs 100 crore. Last week, the SEZ bagged one project each from a Japanese company and a Gurgaon-based Information & Technology (IT) firm Stock Market Trading Tips

Among the new investments, the Mumbai-based AN Corp will set up a lubricant oil unit, while Nashik-based Fox Solutions will start an engineering unit here. The Indiabulls, which has developed the SEZ project, has allotted two acres each to both companies.

The sources from Indiabulls said, "We have allotted two acres to Mumbai-based AN Corp to set up a lubricant oil unit. The total investment in these two new industrial projects is estimated at around Rs 100 crore in phases. They will be 100% Export Oriented Unit (EOU) and expected to be operational in a year or two." The sources, however, stayed away from divulging further details about the projects Himanshu Tiwari Astrologer Blog

When contacted, a senior official from AN Corp, said, "We will set up a new unit at Sinnar SEZ. We have taken two acres of land for the project. The unit will be operational shortly."

The Sinnar SEZ is a joint venture project between Indiabulls and the Maharashtra Industrial Development Corporation (MIDC). The industries setting up their units here get an exemption from excise and sales tax. They are also exempted from Income Tax for the first five years after they become operational. Thereafter, 50 per cent exemption is given in Income Tax during next five years.

Indiabulls Industrial Infrastructure Ltd (IIL), a joint venture company between Indiabulls and MIDC, has developed a SEZ project at Sinnar. The MIDC has upto 26 per cent stake in the project. The SEZ project is spread over total 2,528 acres, which has been divided into processing and non-processing zone. Of which, the processing zone includes 1,436.15 acres, while non-processing zone includes 1,092 acres. The thermal power plant is to be set up at the non-processing zone Indian stock market astrology prediction

In 2014, the Indiabulls empire split and the power company is called Rattan India. The power plant is to be run by Rattan India's subsidiary — Rattan India Nashik Power Ltd. The company already has developed two units with total capacity of 540 MW, which are likely to be operational, shortly.

The Central government had approved the SEZ in 2007. As it had generated zero investment even after eight years of approval, the MIDC had served two notices to Indiabulls in February 2015, with a warning that it could take back the land. Thereafter, Indiabulls had speeded up the issue, appealing to industries for investment in the SEZ. The allotment of industrial plots has been started at the Sinnar SEZ Share Market Astrology