The Hindu : Front Page : 18 companies keen on investing in SEZ project

Online edition of India's National Newspaper
Wednesday, Apr 12, 2006

Front Page

Front Page

18 companies keen on investing in SEZ project

Staff Correspondent

ONGC is the anchor and co-promoter of the project

MANGALORE: After the constitution of the Mangalore Special Economic Zone (SEZ) Limited, 18 companies have evinced interest in investing in the project. However, the companies have not divulged the volume of investment. Oil and Natural Gas Corporation (ONGC) is the anchor and co-promoter of the project.

The other equity holders are Karnataka Industrial Area Development Board (KIADB), Kanara Chamber of Commerce and Industry (KCCI) and Infrastructure Leasing and Financial Services Ltd. (IL&FS).

A. Srinivasa Rao, president, KCCI, told The Hindu on Tuesday that the authorities of a Japan-based drug company had also made enquiries about the project and the facilities available.

``We have been getting enquiries even from the banking sector,'' Mr. Rao said. Three directors had been appointed to the Mangalore Special Economic Zone Ltd.

While ONGC would hold 26 per cent of the equity in the incorporated company, KIADB would hold 23 per cent.

The balance would be jointly held by KCCI and IL&FS, he said.

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