The row over notification of an IT SEZ at Rushikonda to develop it into another Cyberabad has come to an end with the AP Industrial Infrastructure Corporation and promoters of software units sorting out their differences over conversion of sale deed into lease and extension of benefits to all under SEZ rules.
The decision is likely to give a boost to the IT and ITES business from the zone as the investors, who had threatened to approach the court to press for de-notification of SEZ, have now expedited the work on construction. Even as two units – Kenexa Technologies and Symbiosys Technologies – launched their operations almost a year ago, other units’ construction is on at a brisk pace.
The face-off between APIIC and the promoters took a bitter shape during the year-end with a notice served on the latter for stoppage of power supply under the alibi that the constructions were made in violation of SEZ rules for not having the letter of permission from the competent agency.
However, after protracted talks, the promoters, barring one or two, have agreed to convert the sale deed into long-term lease.
The authorities have promised to look into their plea for extending duty benefits to them even as their units had shifted from outside the zone.
As per SEZ rules, only Greenfield units are entitled to avail themselves of the concessions.
“We are extremely happy with the progress and expect that all the units to start their operations very soon despite slowdown due to worldwide recession,” APIIC Chief Engineer and in-charge Executive Director K.V.V. Sathi Reddy told The Hindu.
While Kenexa is involved in recruitment process resource, Symbiosys is into software development and testing.
Kenexa has been given separate SEZ status after getting 25 acres on hill No. 3. Symbiosys has invested Rs.15 crore on its building and fulfilled the norm of employing 100 employees per acre of allotted land.
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