RIL's Navi Mumbai SEZ project cleared
The Board of Approval gives conditional nod to the Navi Mumbai SEZ promoted by RIL chief Mukesh Ambani, reports G Choudhury.business Updated: Jul 13, 2007 04:46 IST
The Board of Approvals (BoA) in the Commerce and Industry Ministry on Thursday granted conditional approval to Reliance Industries’ Chairman Mukesh Ambani's special economic zone (SEZ) in Navi Mumbai, which was in jeopardy over issues related to land management.
BoA chairman and Commerce Secretary GK Pillai said that the Navi Mumbai SEZ had been cleared on the condition that promoters should build infrastructure for ensuring contiguity of land spread across 1,250 hectares within a year. The board had twice deferred a decision on the Navi Mumbai SEZ proposal on grounds of contiguity.
No unit will be allowed to be set up in the Navi Mumbai SEZ before the required underpasses and over bridges are built to ensure contiguity, officials said..
The board, granted formal approvals to 21 zones on Thursday including a 400-hectare zone in Nagaland, the first in the northeastern region. So far, the board has granted 360 formal approvals of business plans, of which 130 have already been notified after the land has been acquired.
Other prominent proposals which secured formal approval include one from Hindalco for an aluminium SEZ in Orissa.
“The multi-product zone proposed in Nagaland will come up over 400 hectares and land is in possession of the developers,” Pillai said. Pillai said in the next two years 250 SEZs would be up and running.
He said 200 proposals for SEZs were pending before the state governments and the indications are that they were unlikely to be approved. The BoA also gave in-principle nod to a 2,000-hectare multi-product SEZ in Chhindwara, the Lok Sabha constituency of commerce minister Kamal Nath.
In Thursday’s meeting, the board took up 39 applications for setting up SEZs, including eight proposals for conversion of in-principle approvals to formal approvals. The board recommended grant of 21 formal approvals and six in-principle approvals.
Among the in-principle approvals were one for a biotechnology SEZ by Videocon Realty & Infrastructures Limited in West Bengal and the multi-product SEZ by Chhindwara Plus Developers Private Limited in Madhya Pradesh.
First Published: Jul 12, 2007 14:53 IST