The Hindu : Andhra Pradesh / Hyderabad News : Sharjah airport zone plans expansion

Online edition of India's National Newspaper
Wednesday, Dec 21, 2005

Andhra Pradesh

Andhra Pradesh - Hyderabad

Sharjah airport zone plans expansion

Special Correspondent

Invites investors with a slew of concessions

HYDERABAD : The Sharjah Airport International Free Zone (SAIF-zone) has announced plans for expanding the facilities being offered owing to ever-increasing demand from investors across the globe.

The SAIF-zone authorities acquired an additional 2.5 million sq. mt area for setting up new leased offices, warehouses and individual plots. Efforts are on to develop access roads and highways for free movement of goods/cargo from the zone to airports and ports.

Sheikh Saqer R Al Qassemi, deputy director-general, who was here on Monday to participate in a seminar organised by CII, said the zone would provide the infrastructure for industries to set up their operations.

Concessions

A slew of concessions were being offered to investors, including 100 per cent foreign ownership, repatriation of capital and profits, exemption from corporate taxes and personal IT.

Over 2,000 companies from 62 countries set up their operations in the zone that was offering single window solution to investors. The minimum capital requirement for obtaining a licence was US $ 40,000 which could be withdrawn later. It was also providing plots measuring 2,500 sq.mt to entrepreneurs with an offer for six months free lease.

CII Andhra Pradesh chairman M.K. Patodia welcomed participants.

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