By IANS,
Chandigarh: A motor sports city will come up near Haryana’s millennium city Gurgaon, adjoining the national capital, officials said Tuesday
The motor sports city will come up in the newly created district of Mewat, about 60 km from Gurgaon, with an investment of Rs.20 billion (Rs.2,000 crore). The project will include a race track and ancillary facilities like hotels, entertainment parks and golf course.
The Haryana investment promotion board, which met under Chief Minister Bhupinder Singh Hooda here Tuesday, approved in principle the proposal of Pioneer Urban Land and Infrastructure Limited to develop ‘Gurgaon Motor Sports City’ in Mewat district
The project envisages future investment of Rs.60 billion (Rs.6,000 crore), the meeting was told by officials.
The board decided that acquisition of land for this project would be made under the state’s Special Economic Zone (SEZ) policy, in which the developer would have to acquire 75 per cent of the land for the project and the government would acquire up to 25 per cent of the land.
Officials said that the project aimed at generation of direct employment for about 7,500 people and indirect employment for over 100,000 others.
The project is expected to be a foreign exchange earner and boost the local economy through enhanced potential for tourism in the state.
Haryana makes nearly 50 per cent of the total automobiles manufactured in the country.
Top automobile manufacturers like Maruti-Suzuki, Hero Honda and several automotive parts manufacturers are based in the state, especially in the Gurgaon-Manesar belt near Delhi.