The Hindu : Karnataka / Bangalore News : Cabinet gives approval for multipurpose SEZ

Online edition of India's National Newspaper
Saturday, Jun 16, 2007
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Karnataka

Karnataka - Bangalore

Cabinet gives approval for multipurpose SEZ

Special Correspondent

It will come up at Nandagudi in Hoskote taluk

Third stage of Biotechnology Park to be developed
Entertainment tax on amusement parks cut to 5 p.c.

BANGALORE: The Cabinet on Friday cleared a multipurpose Special Economic Zone (SEZ) to be developed by a Mumbai-based private firm on 12,350 acres at Nandagudi in Hoskote taluk of Bangalore Rural district.

Briefing presspersons, Minister for Primary and Secondary Education Basavaraj S. Horatti said SKIL Infrastructure Ltd., Mumbai, would invest Rs. 1,500 crore on setting up the SEZ. The company would acquire 12,350 acres, including 4,000 acres of government land, at the prevailing market price. The Government would have no part in the land acquisition. The firm would directly acquire land from farmers, he said.

The State Government would not offer any tax concessions to the promoter, and the Union Government had to approve the SEZ.

It had been decided to develop the third stage of the Biotechnology Park on 100 acres at Doddategura village in Bangalore South taluk. It would be established on a private-public partnership model. Eighty-six 86 acres of land had been identified for the park and the rest would be acquired at a cost of Rs. 17 crore, the Minister said.

The Cabinet decided to provide a rehabilitation package to families who had to give up land for an SEZ developed by Mangalore Refinery and Petrochemicals Ltd. and the Oil and Natural Gas Corporation in Mangalore taluk. The two companies would provide compensation to the affected families. The Karnataka Industrial Areas Development Board (KIADB) acquired 4,500 acres for the SEZ.

Housing scheme

The Cabinet approved a Rs. 1406.85-crore Suvarna Karnataka housing programme to be implemented in 50 towns in various districts.

The Karnataka Housing Board would execute the project and construct 3,900 houses on 2763.76 acres. Under the project, adequate space would be provided for grounds, roads and parks, Mr. Horatti said.

The Cabinet decided to fill 5,000 vacancies of teachers in primary schools. As many as 3,300 posts would be set aside for candidates who had crossed 29 years of age as on February 15, 2007. As many as 1,700 music and art teachers and physical directors would be appointed in primary schools in the next few months, he said.

The Cabinet cleared a proposal of the North-West Karnataka Road Transport Corporation to purchase 1,200 buses at an estimated cost of Rs. 103 crore. The corporation would raise the sum through a loan without government guarantee, Mr. Horatti said.

Tax cut

Conceding a demand from owners of amusement parks, the Cabinet decided to reduce the entertainment tax on such parks from 10 per cent to 5 per cent.

Mr. Horatti said the Cabinet decided to sanction a private sugar factory in Belgaum. The factory would be established by Shivashakti Sugar Ltd. at Saudatti village in the district with an investment of Rs. 55.40 crore.

A building would be constructed for the Karnataka Bhavan in New Delhi at an estimated cost of Rs. 15 crore. It would come up at Chanakyapuri and Nagarjuna Sagar Ltd. would construct it, Mr. Horatti said.

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