Nagpur: In a strategic move, Patanjali Ayurved, led by Ramdev Baba, has submitted an application to obtain co-developer status for its project within the MIHAN Special Economic Zone (SEZ). If approved, this status would grant the company the freedom to let in other entities to start their ventures in the over 100 acres of land parcel allotted to it. The primary objective of the SEZ unit is to generate Net Foreign Exchange (NFR) earnings through export activities, a report in a local daily said.
Initially allotted land in 2017 with unit holder status, which mandated the establishment of a standalone project, Patanjali’s SEZ venture did not materialize as planned. The current application for co-developer status signifies a shift in approach, aiming to optimize the utilization of the allotted land.
According to the report, the MIHAN Development Commissioner’s office has confirmed the receipt of the application. The approval process rests with the Board of Approvals (BOA), chaired by the Commerce Secretary. The BOA is expected to convene for a meeting next month to review and decide on the application.
If granted co-developer status, Patanjali intends to introduce export-oriented units focusing on food and related industries. The move aligns with the company’s commitment to contributing to the region’s economic development and leveraging MIHAN’s infrastructure for export-driven initiatives, the report added.
In addition to its SEZ project, Patanjali also holds 234 acres of land in the Domestic Tariff Area (DTA) of MIHAN. The eagerly anticipated fruit juice processing plant, initially announced by Ramdev in 2016, is scheduled to commence operations in June-July this year. The plant is expected to boost local agriculture by procuring oranges from the region and is anticipated to generate substantial employment opportunities once operational.
A number of other companies in the SEZ have secured a co-developer status. These include Shaporji Pallonji, Anil Ambani-led Reliance, RMZ, L&T.
On Tuesday, a meeting was held at the Patanjali headquarters by the MADC Managing Director Swati Pandey on speeding up the DTA project.
A list of farmers from whom the produce will be procured is being prepared. Apart from oranges there are plans to process a slew of fruits in the plant. At present, the unit is a milling floor. The other machinery required for the juice plant is also being installed, said the report.