Developers seek approval for setting up SEZs

NEW DELHI: Five developers including KRC Infrastructure and Projects and GAR Corporation have sought the government approval to set up new special economic zones (SEZs). These applications will be considered at the meeting of the Board of Approval (BoA), headed by Commerce Secretary Rita Teaotia, on November 3. KRC Infrastructure and Projects and Gera Developments have planned for jointly setting up of IT/ITeS SEZ in Pune, over an area of 4.03 hectares.

The BoA meeting agenda said that “a joint developer SEZ proposal has come for the first time. However, there is no guideline as to how it would be operational. Hence submitted to the Board for consideration”. GAR Corporation too has proposed to set up similar two SEZs in Telangana. Similarly, EON Kharadi Infrastructure has sought nod fopr its IT/ITeS zone in Pune.

On the other hand, Vaxenic India has planned for establishing biotechnology and biopharmaceuticals SEZ at an area of 11.47 hectares in Telangana. Phoenix Embassy Tech Zone too has proposed two IT sector zones in Telangana.

Further, the board will also consider the proposal of Balaji Infra Projects Ltd, which has sought permission to surrender its multi product zone in Raigad. “The developer has not adequate interest in implementation of the SEZ even after giving appropriate opportunities. DC (development commissioner) SEEPZ (Santacruz Electronics Export Processing Zone) has proposed for cancellation of formal approval,” the agenda said.

Exports from special economic zones logged a marginal growth of 0.77 per cent to Rs 4.67 lakh crore in 2015-16. The exports from such 204 zones were Rs 4.63 lakh crore in 2014-15. As per the Commerce Ministry’s data, as on March 31, these zones have attracted investments worth Rs 3.76 lakh crore and has generated employment to 15.91 lakh people.

Highest number of SEZs are operational in states like Tamil Nadu, Karnataka, Telengana and Maharashtra.

Credits ET Realty

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