India's Largest Database on New Projects
The Board of Approval for Special Economic Zones (SEZs) on 8 Aug 2006 approved 45 of the 169 proposals for setting up SEZs across the country. The cleared proposals includes Genpact India’s IT SEZ in Bhopal, Essar's power SEZ in Gujarat, Orient Craft's textile SEZ in Gurgaon, Pondicherry SEZ Company’s multi-product SEZ in Pondicherry and Andhra Pradesh Industrial Infrastructure Corporation’s multi-product SEZ in Vishakapatnam.
The Board of Approval for Special Economic Zones (SEZs) had earlier cleared 105 pproposals. Thus the total proposals cleared by BoA now stands at 150. In an earlier development, the Group of Ministers (GoM) had recommended that the number of notified SEZs in the country should not exceed 150. It is not interesting to see what BoA would do with the pending proposals.
Tweaking the SEZ rules, the BoA has decided to increase the minimum requirement for processing area for multi-product SEZs from 25% to 35%. However, the relaxation of 10% could be allowed on a case-to-case basis. For IT, bio-tech and gems & jewellery SEZs, the requirement for minimum built-up area has been reduced from 1 lakh square meters to 40,000 square meters. The BoA had approved 105 SEZs prior to Tuesday's meeting, of which 10 have been notified.
Source: ProjectsToday