The Hindu : Business : CSEZ turnover to touch Rs.800 crores

Online edition of India's National Newspaper
Friday, Jan 13, 2006

Business

Business

CSEZ turnover to touch Rs.800 crores

Staff Reporter

EOUs on target to do business of Rs.1,200 crores

KOCHI: Export business at the Cochin Special Economic Zone (CSEZ) is expected to touch Rs.800 crores during the current financial year, nearly doubling its turnover during the year from last year when it did business worth Rs.404 crores.

Till the end of December, the CSEZ did business in the range of Rs.650 crores and strengthened earlier projections that by 2006 the zone would be able to do business worth more than Rs.1,000 crores.

Among the new companies that have started operations at the zone are the Irish linen weaver Baird McNutt. K. Mohan group, garment manufacturer, is expected to commence operations soon and employ between 1,000 and 1,500 people.

Suraj Diamonds, leading jewellery maker, is also scheduled to commence operations at the zone soon.

Development Commissioner of CSEZ C.J. Mathew said here that the recent notification of the Special Economic Zone had made the operations of these zones smoother with the introduction of a single-window facility for the units.

He said that the 100 per cent export-oriented units (EOUs) in the State too were doing well. A recent survey of the 43 EOUs spread across the State showed that their business turnover would be around Rs.1,200 crores during the current year.

Coir and rubber-based units along with spices and oleoresins industry were among the 100 per cent EOUs that were operating out of the State.

The general buoyancy in the demand for rubber-based products had seen better business during the current year.

Besides, some of the leading retailers were sourcing their requirements from some of the manufacturers at the CSEZ.

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