Government of India cancels SEZs of Hindalco, Essar, Adani

Government cancels SEZs of Hindalco, Essar, Adani

New Delhi, September 29
The government has cancelled approvals of nine special economic zones (SEZs), including that of Hindalco Industries, Essar and Adani, as no “satisfactory” progress was made to execute the projects. The decision was taken in the meeting of the Board of Approval (BoA) headed by Commerce Secretary Rajeev Kher on September 18. “The Board noted that the progress made by the following developers/co-developers is not satisfactory. The Board, after deliberations, decided to cancel the formal approval/notification/co- developer status, as the case may be, in 9 cases,” the Commerce Ministry said. It said the developers have to refund the duty benefits availed by them.

Courtesy: http://www.tribuneindia.com/2014/20140930/biz.htm#1

 

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