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Pvt cos put SEZ plans on hold.


Date: 15-07-2009
Subject: Pvt cos put SEZ plans on hold
NEW DELHI: In view of the economic slowdown, the credit-crunched private firms have put on hold their plans for setting up Special Economic Zones (SEZ) in the national capital.

At a recent meeting with Delhi Chief Secretary Mr Rakesh Mehta besides other Industries Department officials, private developers like DLF Commercial Developers Ltd and Consolidate Finvest and Holdings Ltd expressed their inability to invest in the projec t.

“All the private developers who were keen to set up the special zones were not keen to invest at this time, citing financial crunch,'' Chief Secretary Mr Rakesh Mehta told PTI.

He said that only two projects of the state government's own DSIIDC (Delhi State Industrial and Infrastructure Development Corporation) have been given approval for development of IT Park and gems and jewels SEZ.

The DSIIDC SEZ projects will now be reviewed by the Commerce Ministry for final approval, Mr Mehta added.

Since the notification of the Delhi SEZ policy in February, the state government had received eight proposals from the developers with some of them even identifying the location for their projects.

While Sweet Home Estate Pvt Ltd has identified land in Vasant Kunj, both Sumit Apartments and Consolidate Finvest and Holdings Ltd planned SEZ in Nazafgarh and DLF Commercial Developers Ltd in Jasola.

Source : Business Line 

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