Four SEZ developers to surrender their to government

NEW DELHI: Four Special Economic Zone ( SEZ) developers including Broadway Integrated Park and Veritas Infrastructure Development have approached the government to surrender their projects.

These applications would be considered by the Board of Approval (BoA) headed by Commerce Secretary Rita Teaotia on August 12.

The BoA is a 19-member inter-ministerial body that deals with SEZ-related matters.

“Formal approval has been granted (to these 4 SEZs) by the department of commerce. However, since there is no significant progress made by the developer, the concerned development commissioners have proposed for cancellation of formal approval granted to the developer,” BoA said in its agenda.

While the two SEZ projects are in IT/ITeS sector, the other two are in the bio technology area.