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Sunday, March 7, 2010

GFH Economic Development Zone, Panvel, will re-energise Maharashtra

Ashok Chavan, Chief Minister of Maharashtra, to inaugurate GFH EDZ, 10.2 billion US dollar - 1750 acre project, today:

The GFH Economic Development Zone Panvel will include a state-of-the-art energy city, an entertainment city, and an information technology and telecom city. It is financed by Gulf Finance House and executed by Valuable Properties Private Limited.

GFH EDZ Panvel would provide direct employment to 2.5 lakh peopleand indirect employment to 5 lakh.

Unlike the special economic zones (SEZs), which have hitroadblocks in many places with farmers refusing to give up their land, the GFH EDZ does not face any such hurdles.

The project, which is being funded entirely by private investors, will not need any subsidy from the state government. But the chief minister, who is also chairman of the Mumbai Metropolitan Region Development Authority, has committed his government to assist the project by providing infrastructure.

To read more, please, visit DNA

Related Story:


Gulf Finance House and Government of Maharashtra sign an agreement to create Economic Development Zone - just outside Mumbai

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