BoA may extend validity of in-principle nod to RIL SEZ
The Board of Approvals for special economic zones is likely to extend tomorrow the validity of in-principle clearance to Reliance Industries' Maha Mumbai SEZ under the new rules that limit its size to 5,000 hectares.
By PTI |
NEW DELHI: The Board of Approvals for special economic zones is likely to extend tomorrow the validity of in-principle clearance to Reliance Industries' Maha Mumbai SEZ under the new rules that limit its size to 5,000 hectares.
"The extension of validity has been under the new rules that limit the size of an SEZ to 5,000 hectares," a government official said.
Reliance had earlier proposed Maha Mumbai SEZ over an area of 10,000 hectares and received in-principle approval for project in August last year. But an Empowered Group of Ministers led by External Affairs Minister Pranab Mukherjee early this year decided to limit the size of SEZs following protests from various quarters over such zones.
The company had made an application for extension of validity after the change in rules. The amendment to rules notified in March had reduced the validity of in-principle approval to one year from three years previously but BoA was given the powers to extend the validity by two more years.
Besides the Maha Mumbai project, the BoA, headed by Commerce Secretary G K Pillai, will take up eight fresh proposals. These include five zones for in-principle nod and three for formal approvals.
Of these, two relate to Infosys Technologies which wants to set up IT and ITES zones near Hyderabad. The biggest zone coming up for in-principle approval is by Ispat Industries, which wants to set up a 1,012 hectare multi-product SEZ in Raigad district of Maharashtra.
"The extension of validity has been under the new rules that limit the size of an SEZ to 5,000 hectares," a government official said.
Reliance had earlier proposed Maha Mumbai SEZ over an area of 10,000 hectares and received in-principle approval for project in August last year. But an Empowered Group of Ministers led by External Affairs Minister Pranab Mukherjee early this year decided to limit the size of SEZs following protests from various quarters over such zones.
The company had made an application for extension of validity after the change in rules. The amendment to rules notified in March had reduced the validity of in-principle approval to one year from three years previously but BoA was given the powers to extend the validity by two more years.
Besides the Maha Mumbai project, the BoA, headed by Commerce Secretary G K Pillai, will take up eight fresh proposals. These include five zones for in-principle nod and three for formal approvals.
Of these, two relate to Infosys Technologies which wants to set up IT and ITES zones near Hyderabad. The biggest zone coming up for in-principle approval is by Ispat Industries, which wants to set up a 1,012 hectare multi-product SEZ in Raigad district of Maharashtra.
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