"We are planning to invest Rs 1,000 crore to develop a 250-acre multi-services SEZ including IT and ITeS at Indore," Rumneek Bawa, president and CEO, Zoom Developers told PTI.
The planned investment, which excludes the cost of land, would largely be met through debt, he said, adding that the SEZ was expected to be notified in the next two months.
Bawa said the company already has the ownership as well as possession of the land where SEZ would be developed.
A further investment of Rs 1,500 crore is expected from units who propose to establish operations in the SEZ, he added.
The company estimates an export turnover of one billion dollars over a period of five years after the development and full occupation of the zone, Bawa said.
Zoom would develop about two million square feet of ready-built infrastructure in the SEZ.
The company has 200 acres of additional land near the SEZ where it would develop an integrated township. The state government has approved the township project.
Press Trust of India | New Delhi June 25, 2007 Last Updated at 16:11 IST