Centre agrees to product-specific SEZ in Sidhi dist | india | Hindustan Times
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Centre agrees to product-specific SEZ in Sidhi dist

THE CENTRE has agreed in principle for the setting up of a product-specific special economic zone (SEZ) in Sidhi district with a Rs 7700-crore aluminum smelter plant of the Hindalco ? a Adiya Birla group company.

india Updated: Oct 19, 2006 16:51 IST

THE CENTRE has agreed in principle for the setting up of a product-specific special economic zone (SEZ) in Sidhi district with a Rs 7700-crore aluminum smelter plant of the Hindalco – a Adiya Birla group company.

According to official sources, the SEZ Board of Approval cleared eight of the 88 proposals received and agreed to 17, including that of Hindalco.

Hindalco, the largest aluminum producing company in the country, plans to set up the SEZ with an investment worth over Rs 20,000 crore at village Orgari near Bargawan in Sidhi on 2025 hectares of land. “The State has already received investment for the smelter plant and the SEZ approval would be an icing on the cake,” said Principal Secretary Commerce & Industry, OP Rawat.

He told HT that the aluminum-based SEZ would help in setting up downstream units in the area. ‘ It is big achievement for the State, he added.  The Aditya Birla Group’ company had signed an MoU with the State government in May for setting up an aluminum smelter plant with the first-phase investment of Rs 7700 crore. In the second phase, the company has proposed to invest Rs 10,200 crore.

Annual production capacity of the plant is targetted at 3.25 lakh tonnes and a turnover of Rs 2800 crore per annum.