SEZs...2 get formal nod, 1 in-principle approval

The Board of Approval of the Special Economic Zones (SEZs) considered even proposals for setting up new SEZs. The Board recommended grant of two formal approvals and one In-Principle approval. Formal approvals were granted to the Bangalore IT-ITES SEZ of Brooke Bond Real Estates Pvt. Ltd. and Shimoga ITES SEZ of Karnataka State Electronics Development Corporation Ltd. In-Principle approval was given to the Cuttak-based Solar SEZ of Lanco Solar Pvt. Ltd. at village Ramdaspur. Among other items, nine proposals for grant of co-developer status were also approved. The BoA decide to enlarge the list of default operations and also decided to authorise the Unit Approval Committee to approve the default operations. A notification in this regard is being issued separately.

Govt clears 27 new SEZs

The Board of Approval (BoA) on Special Economic Zones (SEZs) approved 27 proposals, with 17 getting the formal clearance and 10 others receiving in-principle green signal. The formally approved 17 SEZs, included an SEZ by Bharat Forge near Pune which would spread across 1,271 hectares and see investments of over Rs50bn. Another significant SEZ that was formally approved was a 1,804 hectares SEZ by Jindal's JSW Bengal Steel in Midnapur in West Bengal. This SEZ would see an investment of Rs153.21bn. Other 10 SEZs also received in-principle approvals from the Board of Approval. These include a heavy engineering SEZ of 467 hectares to be built by L&T Ship Building in Tamil Nadu. The project would see an investment of Rs16.65bn. One of the largest projects among these plans would involve an investment of Rs113.4bn. The multi-product EMPI Vittal Centre has got in-principle nod and will come up on an area of 1,100 hectares in Gujarat. The SEZ is being promoted by former Central Vigilance Commissioner N Vittal.

India SEZ Policy

India SEZ Policy

India SEZ

India SEZ

BoA approves 36 SEZ proposals

The government panel on Special Economic Zones on 22 June cleared three zones promoted by Reliance Industries’ chairman Mukesh Ambani and his aide Anand Jain, while giving formal approval to 36 SEZ proposals.

The Board of Approval, which met here to consider 52 proposals, also cleared Anil Ambani Group Reliance Infocom’s 18-hectare IT SEZ at Dhirubhai Ambani Knowledge City in Maharashtra.
It gave in-principle approval to nine other proposals.

Mukesh Ambani and Anand Jain promoted Navi Mumbai SEZ Pvt Ltd proposes to set up three zones covering an area of 345 hectare. Around 63.74 hectare will be occupied by a biotechnology zone, 179 hectare by a light engineering SEZ and 103.25 hectare by a pharmaceutical project.
The consortium also plans a 1,250-hectare multi-product SEZ in the area which is awaiting clearance from BoA. The Revenue Department has raised some issues regarding the project on which state government and promoters’ comments have been received.

“These have been circulated among the members of the BoA for consideration. The proposal would be taken up at the next meeting of the Board on 12 July,” BoA chairman and commerce secretary G K Pillai said.

The BoA also approved an electronic hardware SEZ promoted by Foxconn. The hardware supplier to companies like Nokia and Motorola got the nod for a 11-hectare SEZ in Sriperumbudur in Tamil Nadu, which it will eventually expand to 136 hectares.

The company already has an SEZ in the country and plans to invest $400 million in the new facility. In all Foxconn wants to invest $1.5 billion in India.

The Board also approved a 235-hectare SEZ in the textiles sector. Promoted by Sri Lanka-based multinational MAS Fabric Park, the zone in Andhra Pradesh involves a total investment of Rs880 crore. Overall the company has plans to invest $700 million that will create 30,000 jobs.
The BoA also approved two SEZs in Dadra and Nagar Haveli, the first ones for the union territory. A proposal by Ramky Infrastructure to set up a 1,012-hectare multi-product SEZ in West Bengal was given an in-principle clearance.

“This is the first multi-product SEZ that has been cleared for West Bengal. Now barring Bihar and the north-east, SEZs have been approved in all states. Bihar and northeast have been left out as no application has been received from those states,” Pillai said.
Of the seven cases deferred, two proposals for multi-product SEZs came from Skil Infrastructure. The clearance could not be given as they did not meet networth requirement.

The company said it has got a $500-million investment from a US company that has taken 26% stake. As the FIPB approval for the transaction is yet to come, Board deferred the two cases.
So far, 339 SEZs have formal approval of which 126 have been notified. In all, Rs35,145 crore has been invested in these zones, which have created 32,578 direct jobs.