8,000 crore invested in the Model Economic Township Limited'

NOIDA, India - April 15, 2023 - PRLog -- Reliance MET (Model Economic Township) is a wholly owned subsidiary of Reliance Industries Limited that is developing an integrated industrial township in Jhajjar, Haryana. The company has already invested over Rs 8,000 crore in the project, and the next Rs 1,000 crore phase, which will build additional infrastructure, is on schedule. Over 2,500 acres of land are currently being developed. Over 400 customers, including nine blue-chip companies such as Panasonic, Denso, Tsuzuki, Bodytech, and Dinamic Oil, have purchased industrial land totaling 1,856 acres.

What plans does Reliance MET have for the total area of 8,250 acres? How many stages will this go through?

An integrated township of up to 8,250 acres will be developed with a focus on investments and job creation through dedicated manufacturing and services zones, in addition to developing areas for residential, commercial, and institutional development.

Over the next few years, the project will be developed in three or four phases. Over 2,500 acres are currently under development, with over 400 companies taking up residence. Over 1,500 residential plots have been sold to a variety of customers.
What is the total amount of money invested in the state by these companies?

Once operational, the total investment from 400 companies is expected to be in the range of Rs 9,000 crore, with direct employment of 51,000 people. We have nine foreign companies in the project out of 400, which have contributed a significant amount of foreign direct investment in the country and state.

The ecosystem at MET City is very dynamic, and we continue to attract more and more Indian and foreign companies, which will significantly increase potential investments and employment in the project and state.

When will work on the next phase start? Which sectors would be considered?

Our next phase is currently in the works. We have hired global consulting firms to conduct a thorough planning and study of the new phase. Phase 2 will cover approximately 2,700 acres in total and will connect to the current Phase 1.

Once approved, both phases, totaling more than 5,000 acres, will make MET City the largest planned megacity in North India, focusing on new investments, creating a manufacturing destination of choice, and providing a world-class living environment.
https://theindustrialplots.com/