RIL scouts for SEZ partners
Several months after it got land on the cheap, Reliance Industries Ltd (RIL) may be striking it rich by selling off a portion of that property to American realtor Hines.Reliance is supposed to develop a multi services Special Economic Zone (SEZ) in Gurgaon on the land.
RIL, which had put its plans to set up SEZs worth billions of dollars, is now scouting for a strategic partner in its multi services SEZ project in Gurgaon. According to sources, the company has already initiated talks with the American realty firm Hines.
While the modalities of this deal are still being worked out, RIL has an option to sell 15 per cent in the SEZ to Hines and also give rights to develop up to 200 acres of the zone, valuing the project at about $4 billion.
More : profit.ndtv.com