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.
Seeking more time for developing projects and surrendering them reflects lack of enthusiasm in the tax-free enclaves
New Delhi, July 15 (PTI) The government has given more time to 33 special economic zone developers, including Uttam Galva Steels Ltd, Unitech Infracon and GMR Hyderabad International Airport Ltd, to execute their projects. At a meeting on July 6, the Board of Approval (BoA), headed by Commerce Secretary S R Rao, also allowed three SEZ developers to surrender their projects. The BoA is a 19-member inter-ministerial body that deals with Special Economic Zones (SEZs) and the issues related to them. http://www.business-standard.com/india/news/govt-gives-time-to-33-sez-developers-for-executing-projects/178729/on
OPG Power Gujarat Private Limited, a subsidiary of London-based power player, OPG Power Ventures PLC has received the in-principle approval to set up a sector-specific special economic zone (SEZ) for power at Bhadreshwar, Mundra in Kutch district in Gujarat. The SEZ board of approval (BoA) has granted the in-principle approval to the company at its meeting held earlier this month. http://www.business-standard.com/india/news/opg-power-gets-in-principle-nod-for-sez-in-mundra/480342/