Business   

BOA clears two SEZs of Infosys

NEW DELHI: The Central Government on Wednesday cleared proposals for setting up four new special economic zones (SEZs), including two of the information technology major Infosys Tech- nologies.

In its meeting held here, the Board of Approval (BOA) of SEZs considered eight proposals, including three for conversion of in-principle approvals to formal approvals. The Board approved four IT and IT-enabled services SEZs — two of Infosys Technologies that would come up in Rangareddy district in Andhra Pradesh, and one each of Genpact India (at Jaipur in Rajasthan) and Enfield Infrastructure Limited (at South 24 Parganas in West Bengal).

The Centre also gave in-principle approvals to a multi-product SEZ of Ispat Industries in Maharashtra and a biotech SEZ to be set up by Veritas Infrastructure Development, also in Maharashtra. In a related development, the Government gave one year extension to the in-principle approval to Reliance Industries-promoted Maha Mumbai SEZ but reduced its size to 5,000 hectares as per the new rules. Earlier, the approval was given for 10,000 hectares.

Stating that the extension has been cleared by the ministry, Commerce Secretary and BoA Chairman, G. K. Pillai, said Reliance Industries had been asked to acquire land with the consent of land owners and no compulsory acquisition would be done by the State Government. Mr. Pillai also informed that the rule enforcing a limit of 5,000 hectares as decided by a Group of Ministers in April this year would be applicable to all the proposals.

The Commerce Secretary said so far formal approvals had been granted to 362 SEZs out of which 136 had been notified. So far, over Rs. 45,377 crore had been invested in these notified SEZs that were providing direct employment to over 38,405 persons.

Printer friendly page  
Send this article to Friends by E-Mail

Stories in this Section

PAN not furnished for 25 lakh demat accounts
BOA clears two SEZs of Infosys
Deutsche Bank joins hands with Lufthansa
Apollo Group floats health insurance co.
Tata Sky to invest Rs. 2,000 cr.
Rupee suffers setback
Sensex shoots up
Allergan opens research centre
Lucas TVS buys Indrad Auto Components
Correction
Pick up stake in RCoM tower business
RBI raises MSS cap
SAT stays SEBI order on Karvy
Sharp rise in Calsoft’s net profit
ING Vysya Life launches unit-linked product
Sierra Atlantic acquires U.S. firm
IFBI expands network
Nadi Airtechnics changes name

Copyright © 2007, The Hindu. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu