The Board of Approval of the Special Economic Zones (SEZs) met today to consider proposals for setting up of SEZs and also to approve other requests pertaining to SEZs.

Addressing the Board of Approval (BOA) members, the Chairman informed that so far 576 formal approvals have been granted for setting up of SEZs out of which 319 have been notified. He further informed that over Rs.1,08,903 crore have been invested in the Special Economic Zones during this short span of time and direct employment of the order of 3, 87,439 persons has been generated in the Special Economic Zones. Total export of Rs.99,689 crore have been made from SEZs during the financial year 2008-09 registering a growth of about 50% over the exports made during the year 2007-08.

In this meeting, 3 proposals for setting up of SEZ were considered. The Board recommended grant of 2 Formal approvals and one In-Principle Approvals.

• Formal Approvals: 

> IT/EH/SW incl/ITES SEZs in West Bengal by M/s Shyam Steel Industries Ltd. 

> Genome Valley Biotech SEZs in Andhra Pradesh by M/s APIIC.

• In-Principle Approvals:

> Multi Services SEZ in Tamil Nadu by M/s Limitless Properties Limited.

Among other items, 2 proposals for grant of co-developer status were also approved. SEZ approvals include formal and in principle permissions and co developer endorsements for new SEZ projects and employment generation. The BOA recommended two Formal Approvals and one In Principle Approval for SEZ projects: an IT/EH/SW incl/ITES SEZ in West Bengal by M/s Shyam Steel Industries Ltd.; Genome Valley Biotech SEZ in Andhra Pradesh by M/s APIIC; and a Multi Services SEZ in Tamil Nadu by M/s Limitless Properties Limited (in principle). The Board also approved two proposals for grant of co developer status, effecting developer recognition for joint SEZ development.