Reliance Industries Ltd plans to list in three years, its joint venture with Haryana State Industrial Development Corporation for setting up India's largest special economic zone.
The SEZ is expected to generate up to Rs 50,000 crore (Rs 500 billion) turnover in the very first year of operation.
Reliance Haryana SEZ Pvt Ltd, the special purpose vehicle promoted by RIL for the 25,000-acre zone, would be listed on stock exchanges in three years from the date of coming into existence, informed sources said.
RIL is setting up the SEZ, which would house an airport and a 2,000 MW power plant, with an investment of Rs 25,000 crore (Rs 250 billion) from its coffers, while looking at another Rs 1,00,000 crore (Rs 1000 billion) from third parties.
The Mukesh Ambani-controlled firm would have 95 per cent equity in the JV, while HSIDC would have the remaining. HSIDC would finish land acquisition in three years and development activities in the SEZ would be completed in another two years.
Sources said the combined revenue from all the industries located in the SEZ was expected to be between Rs 40,000-50,000 crore (Rs 400 to 500 billion) in the first full year of operations.
The multi-product SEZ would function like a fully integrated city having an airport, rail linkages including from Delhi Metro, an International Container Depot and adequate supply of power, water and communication facilities.
A 2,000 MW gas-fired power plant would be set up, of which about 500 MW would be utilised in the SEZ and balance given to the state government.
RIL might also tie up with global giants such as Disney, Time Warner or Universal to establish entertainment centres for attracting domestic and foreign tourists.
More from rediff