Aug. 24 – The Khed special economic zone in Pune district has been granted environmental clearance in Maharashtra state.

The 7,192 hectare project is a joint venture between the second largest forging company in the world, Bharat Forge, and the Maharashtra Industrial Development Corporation to form the Khed Economic Infrastructure Private Limited (KEIPL). In a press release, Bharat Forge said, “The (land) notification and environmental clearance is in place. Steps are being taken to operationalize the SEZ.”

KEIPL will develop the multi-product SEZ that aims to attract Rs. 5 billion worth of investments in car manufacturing, food technology, heavy and light engineering materials, electrical and electronics products, plastics, aviation, gems and jewelery, pharmaceuticals, and biotechnology.

The SEZ will be located around 40 kilometers from Pune with the first 1,705 hectares of land for the project already bought and the purchase of another 2,000 hectares still ongoing.

Pune district in Maharashtra state is well-known for its scenic tourist sites, educational institutions and IT industry.