Mumbai - The civil works for the special economic zone (SEZ) pharmaceutical park promoted by the J B Mody Family, the main promoters of Mumbai-based J B Chemicals, and the real estate firm HBS Realtors Pvt Ltd, has commenced in Panoli in Bharuch District, Gujarat.
JB SEZ is geared up to be a state-of-the-art pharmaceutical park, planned and designed by CPG Consultants, Singapore. Spread over 312 acres of land, the JB SEZ will have core utilities available at its unit doorstep.
JB SEZ will have all the modern day conveniences required for the growing pharma industry, complete with logistics and residential zones as well as an activity hub, according to an announcement made by the company. The zone has medium and large parcels of land as well as premium specialty units, all specifically designed for pharmaceutical activities of various kinds.
The park will have hassle free environment and facilities including high end service corridor, a first of its kind theme concept zone, zero liquid discharge, convenient logistics, world class infrastructure and centralized utilities to support low maintenance and operative costs for the units.
Being an SEZ, the park will have various tax exemptions including duty on import/domestic procurement of goods for setting up SEZs, exemption from special additional duty provided for domestic sales, 100 per cent IT exemption for five years, exemption from restriction on foreign investments for SSI reserved items engaged in manufacturing, and the unit to be positive net foreign exchange earner within 3 years.
The promoters has procured all SEZ approvals and obtained financial closure with the support of IL&FS, a leading infrastructure company in India. IL&FS has invested in equity of the project.