REL may join hands with Indiabulls for Raigad SEZ

Reliance Energy (REL) is close to inking an agreement with Indiabulls Real Estate (IBREL) to jointly develop a 6,000-acre multi-product special economic zone (SEZ) in Maharashtra’s Raigad district, as per sources.

This move is part of REL’s aspirations to enter the real estate and infrastructure development. The 22-km Mumbai Trans Harbour Link (MTHL) project from Sewree to Nhava-Sheva, bagged by REL, would service this SEZ. The proposed SEZ will consist of an industrial processing area of 2,100 acres, a commercial area of 900 acres, a residential area of 1,500 acres, and open space of 1,500 acres. It will comprise of a central core with various industry hubs.

Facilities in the central core will include convention centres, business incubation facilities with ready-to-move-in office space and laboratories, R&D facilities and contract research, data centres and quality analysis and data retrieval facilities. Industry hubs will include institutions of learning and innovation, design and transportation facilities. The proposed residential space will comprise of residential developments and landscaped parks with central recreational facilities such as club houses, a tennis academy and green zones. The commercial space will include provisions for hotels, shopping facilities, office space, entertainment facilities and healthcare.