BoA extends validity of in principle extension for Reliance SEZ
The Board of Approval (BoA) of Union Commerce Ministry has extended the validity of in-principle approval for the two Special Economic Zones (SEZ) proposed to be set up Reliance Haryana SEZ Ltd at Gurgaon and Jhajjar in Haryana by one year.chandigarh Updated: Apr 05, 2011 00:24 IST
The Board of Approval (BoA) of Union Commerce Ministry has extended the validity of in-principle approval for the two Special Economic Zones (SEZ) proposed to be set up Reliance Haryana SEZ Ltd at Gurgaon and Jhajjar in Haryana by one year.
Following an amendment in the SEZ Rules, the BoA considered the request of Reliance for extension of in principle validity and approved it in a meeting held on March 25 at New Delhi. The Reliance though has significantly altered the contours of the much hyped project following its failure to aggregate contiguous land and frequent change of their business plans. It now plans to set up a multiple sector SEZ on 1501 acres at Gurgaon in place of previously proposed multi-services SEZ on 1086 acre.
Instead of the earlier proposed SEZ on 12,500 acre at Jhajjar, the company has plans to set up a Model Economic Township (IMT framework) comprising domestic tariff areas, logistic hub, power plant, SEZs, Knowledge City etc. The BoA noted that the developer has sought extension of the letter of approval (LoA) for the Gurgaon SEZ up to March 31, 2015. Though the developer has over 1000 hectares in its possession, the land was not contiguous. When the developer came for third extension, the BoA asked it to apply de-novo for registration subject to the developer getting state government recommendation, which has not been made available till date.
However, recently the SEZ Rules were amended to enable the Centre to grant extensions of in-principle approval beyond initial validity without restrictions. Thus, the Board decided to extend the validity of the LoA up to March 31, 2012.
For the Jhajjar SEZ, the Board granted third extension for the validity of the in principle approval till February 14, 2012. The Centre had given in n-principle approval for the project in February, 2008. The developer was given two extensions of one year each. The validity of the last extension was up to February 14 this. Reliance told BoA that while it has in its possession 2671 hectares it has requested Haryana government to acquire balance land for enabling contiguous land parcel of minimum 1000 hectares to start development activity.