Haryana to develop new Industrial Township at an expense of $5 billion
An MoU for a joint venture to this effect was signed between Haryana government and China Fortune Land Development Company.
The Haryana Government on 2 July 2016 announced that it would develop an industrial township in the state at an expense of 5 billion dollar. The new industrial township will spread in over 1500 acres of land in Sohna and Manesar areas of Gurgaon.
For this purpose, the Haryana Industrial and Infrastructure Development Corporation (HSIIDC) signed a memorandum of understanding (MoU) with China Fortune Land Development (CFLD) Company in New Delhi.
Under the agreement, HSIIDC and CFLD Company would execute the project as a joint venture (JV).
Work of CFLD
• The Chinese firm would develop infrastructural facilities, industrial units and residential and commercial projects in the township.
• Industrial units related to automobiles and electronics would be established in the township.
• The project that would be completed in next 10 years will help in generating employment opportunities for lakhs of youth.
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