Centre clears proposal for SEZ

mumbai: the centre has cleared a proposal for setting up a rs 5,600 crore special economic zone in the satellite township of navi mumbai, minister of state for urban development sunil tatkare informed maharashtra legislative council on saturday. replying to a question by sena mlc deepak sawant, tatkare said the project, which had been cleared on february 15 would be carried out in three phases at dronagiri, ulve and kalamboli. a total of 4800 hectares would be developed for the project, he said, adding that the initial investment for phase one of the project would amount to rs 3,600 crore. stating that industries located in the economic zone would get tax exemption, the minister said the project would provide employment to nearly 1.5 lakh persons. there would be no direct investment in the project by the state or central government, he said. cidco had suggested setting up of a special purpose company to deal with the project, he added. union civil aviation minister, who would be in nagpur on march 23 in connection with an offical function, would look into the project, tatkare said. pti