In pursuance to development of SEZs, Parsvnath SEZ Limited (PSL), a subsidiary of real estate major Parsvnath Developers Ltd, will develop a Pharmaceutical Special Economic Zone (SEZ) at Nanded in Maharashtra. The company has received LoI from Maharashtra Industrial Development Corporation (MIDC), a Maharastra Government Undertaking for development of Pharma SEZ project in Krushnoor Industrial Area of Nanded, which is in close proximity to the SH-6 connecting Nanded and Secunderabad. Spread over a total area of 370 acres, the Parsvnath SEZ Ltd will float a special purpose company jointly with MIDC to implement the project. PSL will hold 74 per cent stake in the Joint Venture with MIDC holding balance 26 per cent.
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