RIL mulls strategic investor for Haryana SEZ

Mukesh Ambani-led, Reliance Industries Ltd (RIL) may rope in strategic investor for its Haryana Special Economic Zone project, which will be developede as a joint venture with Haryana government on about 9,600 acres of land.

RIL, in its annual report for 2009-10 has declared that it might bring in a strategic investor to halp maximize the potential of the investment made so far and make it a truly global investment destination. The report was issued to the shareholders for the company’s forthcoming annual general meeting to be held on Jun 18.

The RIL shares were trading down by 1.75 per cent, from the previous close on Monday, on the Bombay Stock Exchange (BSE). Meanwhile, the benchmark index, Sensex too traded lower by 1.65% at 16,198 points in the morning trades today. RIL shares have hit 52-week high at Rs 1,186.15 on June 12, 2009 and a 52-week high at Rs 859.15 on July 13, 2009.

The company has formed a joint venture with Haryana government to establish a large scale fully integrated economic enclave as SEZ. It has purchased about 9,600 acres of land and has obtained various approvals from government to establish the SEZ, the report said.



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