Thursday, December 11, 2008

2 SPVS FORMED FOR SEZ PROJECTS

Kolkata/Bhubaneswar
Business Standard

Out of 14 Special Economic Zones (SEZs) sanctioned for Orissa, some progress has been made in case of two SEZs with the formation of Special Purpose Vehicles (SPVs) to pilot the projects. One of the two SPVs, namely IDCO SEZ Development Ltd, is fully owned by the state owned Industrial Infrastructure Development Corporation (Idco) while the second SPV namely Gopalpur SEZ Ltd is owned by Tata Steel.

However, the government is yet to finalise a separate SEZ policy in the state, says industry minister Biswa Bhushan Harichandan. Though the Union government approved the multi product SEZ by Tata steel in Gopalpur on 18 June 2007, it is yet to be notified. The government has handed over 2656.535 acres of land for this project at Gopalpur but the work could not start as the SEZ is yet to be notified.

A majority of the 14 SEZs sanctioned by the Union government for Orissa are in the IT and ITeS sectors. While notification has been issued for 4 SEZs in the state, 6 SEZs have got formal approval. Besides, 4 SEZs have received in principle approval from the Union government.

The SEZs which have been notified include sector specific SEZ in IT/ITeS (Infocity, Bhubaneswar) promoted by Idco, sector specific SEZ for stainless steel and ancillary and downstream industries in Kalinganagar Industrial Complex (KIC) promoted by Jindal Stainless Ltd., IT/ITeS SEZ promoted by DLF in Chandaka Industrial Estate (Bhubaneswar) and sector specific aluminium SEZ with CPP at Lapanga in Sambalpur proposed by Hindalco Industries.

Sources said, out of the above 4 notified SEZs in the state, two SEZs promoted by Idco and Jindal Stainless Limited, have become operational. Similarly, the Knowledge park SEZ at Gaudakashipur in Bhubaneswar, sector specific SEZ for metallurgical based engineering and downstream industries at KIC and sector specific SEZ (BPO) proposed to be developed by Idco have received formal approvals from the Government of India (GoI).

The aluminium SEZ proposed by Vedanta Aluminium at Jharsuguda, multi-product SEZ at Gopalpur proposed by Tata Steel and the sector specific beach sand minerals SEZ at Chhatrapur in Ganjam proposed by Saraf Agencies have also received formal approvals.

Besides, IT/ITeS SEZ proposed by Genpact at Bhubaneswar, multi-product SEZ proposed by Idco at Paradeep and multi-product SEZ at Paradeep proposed by Posco India and sector specific SEZ for textile and garments proposed by Welspun Anjar SEZ Limited have received in principle approval from the GoI.

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