The Hindu Business Line : `HSIDC, Reliance to sign pact on June 19'

Brushing aside speculation over the controversy-ridden 25,000-acre special economic zone project near Gurgaon, the Haryana Chief Minister, Mr Bhupinder Singh Hooda, today said the signing of agreement between Haryana State Industrial Development Corporation (HSIDC) and Reliance Industries had merely been postponed by a week to June 19, and that the ambitious project was `on track'.

"The Reliance Industries Chairman, Mr Mukesh Ambani, called me and requested that the event be postponed to June 19, as he had just returned from the US. The memorandum of understanding between the two sides was signed long back and the project will go smoothly," Mr Hooda told newspersons here.

"The SEZ project is in the interest of the State as it will provide employment to 5 lakh people, and the revenues to the State exchequer will be Rs 10,000 crore per year once it is completed," he said.

The proposed SEZ project has been in the eye of storm with the India National Lok Dal leader and former State Finance Minister, Mr Sampat Singh, alleging large-scale irregularities in acquisition of about 1,500 acres of land, and demanding cancellation of the mega deal.

Proposed agreement

The proposed agreement would include about 1,500 acres of land at Garhi Harsru, Gurgaon to a joint venture company being formed by HSIDC and Reliance Ventures Ltd (a 100 per cent subsidiary of Reliance Industries) for the development of the multi-product SEZ.

Mr Hooda also stated that like Reliance, other companies were free to come up with SEZ proposals. "We are looking for development of the State. If some other SEZ project comes along, we will acquire land for them also, under the stipulated norms," he said.

The State Government is acquiring 25 per cent of the land in National Capital Region and 50 per cent in the backward areas for development of the SEZs. When contacted Reliance officials maintained that the signing of the agreement was postponed due to "logistical issues" and will be signed on June 19.

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