Mukesh Ambani's three SEZs coming up for clearance | business | Hindustan Times
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Mukesh Ambani's three SEZs coming up for clearance

business Updated: Jun 20, 2007 17:02 IST

PTI
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With the government still to clear their multi-product Navi Mumbai SEZ, three other zones promoted by Reliance Industries Chairman Mukesh Ambani and his close aide Anand Jain in the same area have been listed for clearance at the Board of Approval's meeting on Friday.

"While we are awaiting response from the Maharashtra government on objections of the Revenue Department on the 1,250 hectare multi-product SEZ proposal in Navi Mumbai, three other product-specific zones in the area will come up for approval," a highly placed source told PTI.

He said the three proposals are stand-alone single product SEZs spread over 350 hectares of land.

Asked whether it was a move on the part of developers to overcome contiguity issues in the Navi Mumbai SEZ, the official said these four projects have been stand-alone proposals ever since the SEZ Act came into force last year.

However, these zones were originally part of a single multi-product SEZ mooted by SIDCO -- the original promoter of the Navi Mumbai project. But after the new law came into force, its new promoter who had bought the project from SIDCO decided to set up four zones there.

The multi-product SEZ in Navi Mumbai had run into difficulties following objections from the Revenue Department, which feared revenue leakage because of a road passing through the zone. After examination, the department gave it a clean chit as far as the issue of contiguity was concerned, but raised other points.

The BoA had asked the promoters and the state government to respond to the issues raised by the Finance Ministry. While the promoters have replied, the Commerce Ministry is awaiting views of the state government.