Mahindra biotech SEZ gets government approval

09 August 2006

To be located on a 72-acre plot owned by the M&M group, the SEZ will be developed by Mahindra Gesco Developers Ltd (MGDL), a subsidiary of the company.

The SEZ will have world class facilities on a par with those available at Mahindra World City SEZ in Chennai, the company said in a notice to the Bombay Stock Exchange.

"Biotechnology firms are looking for world class facilities to support their global expansion. The Mahindra group, with its first mover advantage in the SEZ sector, is uniquely positioned to offer the biotech industry world class and state-of-the-art facilities. This SEZ is a perfect fit in our strategy to create a "plug-in and play" environment for global giants. It will have the dual advantage of the Mahindra World City promise of world class infrastructure and its proximity to the commercial hub of Mumbai," Arun Nanda, executive director and president infrastructure development sector of the company, said,

The SEZ will offer all the benefits of convenience, high productivity and lower costs, living community in close proximity, while providing a truly international and soothing environment.

The SEZ is expected to attract investments from global biotechnology majors. It will offer specialist business zones with customised infrastructure to give companies a competitive edge.

Analysts anticipate huge demand for IT SEZs, as existing tax exemptions for software technology parks in non-SEZ areas will expire in ''09.