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Government to consider two new SEZ proposals on April 28.


Date: 18-04-2016
Subject: Government to consider two new SEZ proposals on April 28
NEW DELHI: Government will on April 28 consider two new proposals, including from Infosys, for setting up Special Economic Zones (SEZs).

The proposals will be taken up by the Board of Approval (BoA) for SEZ, chaired by Commerce Secretary Rita Teaotia.

Infosys Ltd has proposed to set up an IT/ITeS zone in Bengaluru over an area of over four hectares.

Chhindwara Plus Developers Ltd has proposed to set up a multi-product SEZ in Madhya Pradesh over an area of 1,320 hectares.

Further, as many as 19 developers and units have sought more time to complete their projects which are under different stages of completion.

Wipro Ltd has requested for further extension of its letter of approval for setting up an IT SEZ in Bengaluru.

"The developer has been granted two extensions, validity period of which is upto May 26. The developer has requested for further extension so as to implement the project," the agenda of the BoA meeting said.

Similarly, Vedanta Aluminium Ltd has sought extension of the validity period of formal approval, granted for setting up an SEZ for manufacture and export of aluminium in Odisha, beyond May 22.

Others who have sought more time include Brooke Bond Real Estate, Avash Logistic Park, Sealand Ports and Indofil Industries.

SEZs are exports hubs which contribute to about 23 per cent to the country's total outbound shipments.

The commerce ministry is taking steps to revive investors' interest in these zones.

Exports from such zones in 2014-15 stood at Rs 4,63,770 crore as compared to Rs 4,94,077 crore in the previous fiscal.

Source : economictimes.indiatimes.com

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