PIB dated 30-8-2007

The Board of Approval of the Special Economic Zones (SEZs) in its meeting held here today has recommended grant of 20 Formal approvals and  7 In-principle approvals. In all 31 applications for setting up SEZs, which included 4 proposals for conversion of in-principle approvals to formal approvals, were considered. Prominent among those recommended are:-

Formal approvals for:

Multi-services SEZ by Gujarat Finance City Development Company Limited in Gandhinagar, Gujarat.

 Agro and Food processing SEZ by Nagaland Industrial Development Corporation Limited in Dimapur, Nagaland.

IT/ITES SEZ by Tata Consultancy Services in Andhra Pradesh.

IT/ITES SEZ by Cognizant Technology Solutions India Private Limited in Ranga Reddy District, Andhra Pradesh.

2 IT/ITES SEZs by APIIC in Kakinada and Chittor in Andhra Pradesh

Conversion of In Principle  approval to Formal approval for Textiles SEZ by Alok Infrastructure Private Limited in Dadra and Nagar Haveli and Multi Product SEZ by Sterling Erection and Infrastructure Privated Limited in Bharuch, Gujarat.

In Principle approvals for Sector-specific SEZ for providing products and related services for oil and gas, energy and petrochemicals by Gujarat Hydrocarbon and Energy SEZ Limited in Gujarat, Multi product SEZ by Gitanjali Gems Limited in Nagpur, Maharashtra.

Earlier, while addressing the members of the Board of Approval, the Chairman informed that so far formal approvals have been granted for setting up of 366 SEZs out of which 142 have been notified. He informed that over Rs. 46705 crores have been invested in these notified SEZs and that these SEZs are providing direct employment to over 40153 persons. In addition to this, the 12 Private/State Government SEZs notified prior to coming into force of SEZ Act, 2005 are providing direct employment to over 15000 persons, making the total employment provided by the new generation SEZs to over 55000 persons.  

SEZ approvals expand formal and in principle permissions, enabling new sectoral and conversion approvals across services and manufacturing. The Board of Approval recommended grant of 20 formal approvals and 7 in-principle approvals after considering 31 SEZ applications, including four conversions of in-principle to formal approvals. Recommendations span Multi services, Agro and Food Processing, IT/ITES, Textiles and Multi product SEZs, and include sector-specific proposals for oil, gas, energy and petrochemicals. The release also reports that 366 formal approvals have been granted to date, 142 SEZs notified, with reported aggregate investment and direct employment figures for notified SEZs and earlier notified private/state SEZs.