Deal #572

Location #1

Spatial accuracy level
Coordinates
Location
Maharashtra, Nashik, Sinner

Latitude
19.952696
Longitude
73.806152
Target country
India
Comment on location
Maharashtra, Nashik, Sinner Coordinates: 19.952696, 73.806152

Land area

Intended size (in ha)
1023
Size under contract (leased or purchased area, in ha)
[2009] 600
Comment on land area
The multi product SEZ was to be spread over an area of 6,000 acres consisting of an industrial processing zone of 2,100 acres, a commercial zone of 900 acres, a residential area of 1,500 acres and open space of 1,500 acres. The company had acquired an area of 600 acres in May 2009.

Intention of investment

Intention of the investment
Industry
Comment on intention of investment
textiles, electronics/electrical, automobile and auto component, pharmaceuticals and bio-tech, food processing

Nature of the deal

Nature of the deal
Outright Purchase

Negotiation status

Negotiation status
[2006] Concluded (Contract signed)
Comment on negotiation status
Formal approvals granted in the Board of Approvals after coming into force of SEZ Rules

Implementation status

Implementation status
[2015] Project not started
Comment on implementation status
The project was reportedly scrapped by the Maharashtra government on 30 July 2012, due to the inability to acquire land. In 2015, the project had not been started and the state continues to push the developer to start the operation. The company was issued a notice from the state that land would be taken back because there have been zero investments, so far no further actions were made.

Operating company

Name of investment project
Indiabulls Nasik SEZ
Comment on investment chain
Maharashtra Industrial Development Corporation (MIDC) = a Joint venture of Indiabulls Real Estate Limited and Maharashtra Industrial Development Corporation

 

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Data source #1

Data source type
Personal information
Comment on data source
Social Development Foundation, Delhi

Data source #2

Data source type
Personal information
Includes in-country-verified information
Yes

Data source #3

Data source type
Government sources
File
Date
2005-01-01

Data source #4

Data source type
Company sources
File

Data source #5

Data source type
Media report
File
Date
2012-08-01
Comment on data source
Centre for Monitoring Indian Economy Pvt. Ltd.

Data source #6

Data source type
Media report
File
Date
2015-02-13

Data source #7

Data source type
Media report
File
Date
2015-08-16

May 12, 2016, 7:44 p.m.

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Dec. 10, 2015, 12:20 p.m.

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April 28, 2014, 6:28 p.m.

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May 13, 2013, 1:20 a.m.

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Feb. 15, 2013, 5 p.m.

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