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Pact to develop Karasur SEZ soon

PUDUCHERRY: The land acquisition for setting up a Special Economic Zone (SEZ) at Karasur, about 20 km from here, is nearing completion and the government would enter into an agreement with a private developer shortly, Industries and Power Minister V. Vaithialingam said on Saturday.

While speaking at an export awareness programme, Mr. Vaithialingam said the government planned to sign the agreement to develop the land for setting up the SEZ within two to three months. Mr. Vaithialingam said the government would accord tax holiday to the industrial units at the SEZ, adding that even raw materials purchased by these units would be exempted from duty.

In his keynote address, R. Mananathan, member of Engineering Export Promotion Council, which organised the programme, stressed the need to reduce the cost of production to compete in the international market.

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