Navi Mumbai SEZ gets formal nod as government clears 9 proposals
15 Jan 2009
The government today granted formal approval to the Navi Mumbai special economic zone promoted by Anand Jain, a close associate of Reliance Industries chairman Mukesh Ambani, as the Board of Approval cleared nine SEZ proposals.
The BoA under the commerce ministry gave formal approval to seven SEZ proposals and in-principle approval to two others. BoA considered 12 proposals in all.
The proposals which received formal approval include the Navi Mumbai SEZ, JSW Aluminium SEZ, Anand Agrochem India's agro-product SEZ and Kerala Infrastructure's IT project. These projects have been granted formal approval as the promoters have secured land.
In-principle approvals were granted to Lepakshi Knowledge Hub Pvt Ltd's multi-product tax-free enclave in Andhra Pradesh and Karaikal Port SEZ.
Larsen & Toubro's proposal for an IT SEZ was deferred as "there was no clarity on land," chairman B K Pillai said after a BoA meeting.
The Anand Jain-promoted Navi Mumbai SEZ is promoting six different tax-free enclaves as the government has set a 5,000 hectare ceiling on a single SEZ.
The government has so far given formal approvals (those possessing land) to 552 projects, of which 278 have been notified and 87 are operational.