TN clears land acquisition for new SEZ
Land acquisition process is to begin shortly for the fifth special economic zone in Tamil Nadu. The multi product SEZ over 3000 acres is slated to come up in Perambalur district.
By V Hemamalini, TNN |
CHENNAI: Land acquisition process is to begin shortly for the fifth special economic zone in Tamil Nadu. The multi product SEZ over 3000 acres is slated to come up in Perambalur district.
Recently, Tamil Nadu Government issued a notification for giving approval to the state owned Tamil Nadu Industrial Development Corporation (TIDCO) to go ahead with the land acquisition. The administrative clearance is seen in the industry as a big development, given the raging controversy over SEZs.
Sharing the details with ET on Wednesday, TIDCO chairman and managing director, S Ramasundaram said "we have got the GO to proceed with the land acquisition. The first stage involved in the process to select the promoter is also over." The SEZ is to be developed with an investment of Rs 300 crore to Rs 500 crore.
He said the request for proposal, a stage before the final selection of a partner, would take place next week. On the basis of quantitative parameters, eight players had passed the first stage. "They will present a concept paper on the SEZ to the TIDCO Board for approval," he said.
Asked if the SEZ controversy would stall the current venture, the CMD said he did not forsee any such problem in Tamil Nadu. TIDCO has been following the Mahindra model, the first greenfield SEZ of the country. "Everything at Mahindra SEZ was built from the scratch. Of the 1,300 acres, 1,250 acres were directly purchased. TIDCO also intends buying land at market price, directly from the land-owner. This saves us from any litigation," he added.
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Mr Ramasundaram said the Hosur SEZ too was in an advanced stage, with the GO expected anytime. There was no rehabilitation in the project as TIDCO had identified only dry lands.Download
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