Parsvnath SEZ Ltd inks LoI with government of Rajasthan

Parsvnath Developers Ltd has announced the Press Release in connection with the signing of Memorandum of Understanding (MoU() by the Company’s subsidiary viz. Parsvnath SEZ Ltd (PSL), with Government of Rajasthan to develop 112 acres SEZ in Jaipur. The SEZ envisage an investment of Rs 1400 crores and will focus on giving a further boost to Gems and Jewellery industry.

Press Release :

"Parsvnath SEZ Ltd (PSL), a subsidiary of Parsvnath Developers Ltd has signed an MoU with Government of Rajasthan to develop 112 acres SEZ in Jaipur. The SEZ envisage an investment of Rs 1400 crores and will focus on giving a further boost to Gems and Jewellery industry.

The MoU entails that the State will provide necessary support for infrastructure facilities in SEZ. The Agreement will also ensure smooth implementation towards the development of the SEZ by providing Single Window Service through the Bureau of Investment Promotion (BIP). It will also help PSL to avail various incentives and facilities under various schemes announced by the State / Central Government, which will ensure that its development remains on the fast track.

Speaking on the development Mr. S N Sharma, Director, Parsvnath SEZ Ltd said, "This is a very significant MoU for us as this will help us in hastening the process of our commercial activity in Rajasthan. We have already identified location for the SEZ, which will be on the outskirts of Jaipur. Once complete, the project is expected to generate employment for more than 60,000 persons in the State of Rajasthan."

The development of the project is scheduled for completion within 3 years from the
commencement of construction.