Commerce Ministry to consider 5 fresh proposals for SEZ | business | Hindustan Times
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Commerce Ministry to consider 5 fresh proposals for SEZ

business Updated: Aug 10, 2009 19:19 IST

The government will consider on Tuesday five proposals for setting up special economic zones, including those of Brooke Bond Real Estates and Deccan Infrastructure.

The 19-member inter-ministerial Board of Approval (BoA), headed by Commerce Secretary Rahul Khullar, may also give formal approval to 25 developers for execution of their projects within an extended time-frame.

The Board would also take a decision on requests of Lanco Solar and Cochin Airport International to set up special economic zones (SEZs).

Brooke Bond Real Estates plans to set up an ITITeS SEZ over 11 hectares in Karnataka, while Deccan Infrastructure has moved the BoA for permission to develop two tax-free zones in Andhra Pradesh, said the agenda document of the Board.

Of the 25 developers, including Ansal SEZ in Gurgaon (Haryana), Ranbaxy Laboratories in Mohali (Punjab) and Maytas Enterprises in Ranga Reddy (Andhra Pradesh), which have been given one-year additional time for their projects, may get formal approval for the extension, sources said.

Maytas Ventures SEZ Pvt Ltd has approached the BoA to surrender its 14.15 hectare sector-specific SEZ in Andhra Pradesh. The issue is also on the agenda of the BoA. Sanvo Resorts has also requested to de-notify its projects.

So far, 576 formal approvals have been given for setting up SEZs, of which 319 have been notified. Exports from SEZs grew by 36 per cent to Rs 90,416 crore in 2008-09.