Parsvnath to set up pharma SEZ

Pune: Parsvnath Developers Ltd is setting up a pharmaceutical SEZ in the Krushnoor Industrial area of Nanded in Maharashtra. The 370-acre SEZ is being developed with the Maharashtra Industrial Development Corporation, with PSL holding 74 per cent stake in the joint venture company that has been named `Parsvnath MIDC Pharma SEZ Private Ltd.'

Speaking at the foundation stone laying ceremony, the Maharashtra Industry Minister, Mr Ashok Chavan, said: 'The SEZ will help in bringing FDI and will fuel exports from the region. I am confident that the facility will attract many global pharma majors to set up their latest ventures at Nanded.'