Govt approves 10 new SEZs; gives time to Ambani, Rahejas

NEW DELHI: The government on Tuesday approved 10 Special Economic Zones and allowed one-year extension to four projects, including Reliance Industries' Mukesh Ambani- promoted Rewas Ports for land acquisition.

The Board of Approval (BoA) in the Commerce Ministry gave formal approvals to eight proposals, including those of Gulf Oil Corporation, Emmar MGF and Larsen and Toubro. Two other proposals were also given 'in-principle' approvals.

The board also allowed DLF to withdraw four of its IT/ITeS tax-free enclaves, asking the realty major to refund Rs 6-7 crore worth of fiscal sops the company would have availed of. DLF had cited economic downturn as reasons for seeking withdrawal.

Four developers, including Ambani-promoted Rewas Ports in Raigad, Maharashtra, and K Raheja group have been allowed extension of in-principle approval by one year. These projects have not been able to acquire the required land.

However, the BoA outrightly rejected the proposals of Videocon Realty and Writers and Publishers for SEZs in Indore, on the ground that the promoters have not acquired "even an inch" of land.

"We want serious players and don't (want) to spoil the SEZ policy," Additional Secretary in the Commerce Ministry D K Mittal said after the BoA meeting.