Patna, Aug 03: Bihar government and Infrastructure Leasing and Financial Services (ILFS) have entered into a strategic alliance for development of Special Economic Zones (SEZs) in the state to promote industrial and trade growth. Chief Secretary G S Kang and ILFS representative D K Mittal signed the MoU for creating the Special Economic Zones. The projects involve development of two product-specific SEZs and one multi-product SEZ. "This will lead to significant investment and employment potential in the state," Kang told a press conference. The locations would be identified through site analysis to be undertaken jointly by the state government and ILFS, he said while expressing firm commitment for development of infrastructure of world-class SEZs for the accelerated industrial development of the state. "The alliance is unique and both state government and ILFS will share business development risk in line with the partnership approach," he said. Speaking on the occasion, Mittal said the ILFS would bring core competencies into the forefront and development of SEZs was a priority at the national and state level and the public private partnership approach appeared most appropriate for implementation.
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