The Hindu : Tamil Nadu / Chennai News : Nanguneri special economic zone to become operational soon

Online edition of India's National Newspaper
Saturday, Jul 08, 2006

Tamil Nadu

Tamil Nadu - Chennai

Nanguneri special economic zone to become operational soon

Special Correspondent

SEZs also planned at Ennore, Krishnagiri "One of the reasons for delay in commissioning the project was that the promoter could not achieve financial closure"

CHENNAI: The Nanguneri special economic zone is likely to become operational in three-four months, Chairman and Managing Director of the Tamil Nadu Industrial Development Corporation S. Ramasundaram has said.

Addressing a seminar organised by the Plastics Export Promotion Council here on Friday, Mr. Ramasundaram said the United States-based promoter of the project could not achieve financial closure and this was one of the reasons for the delay in commissioning the project.

Another multi-product SEZ had been proposed at Ennore near here. One more SEZ was planned at Krishnagiri.

"Increase India's

market share"

He called for greater collaboration among plastic manufacturers and exporters. Efforts should be made to increase India's share in different segments of global trade.

Chairman of Plastics Export Promotion Council R.C. Lohia said the council was in the process of recasting a project under the Commerce Ministry's Market Access Initiative Scheme for tapping over a $5 billion market for plastic consumer goods in the U.S.

It would submit the proposal to the Centre soon. He urged the council members to prepare themselves for tackling anti-dumping issues.

Additional Export Commissioner and Zonal Joint Director General of Foreign Trade, Chennai, M. Saikumar, gave an account of amendments made to the new foreign trade policy.

Responding to a query, he said the rationale behind the focus market scheme was to boost exports to countries where the business was not high.

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