Wednesday, May 09, 2007

Navi Mumbai SEZ Proposal on Hold

SEZ Board of Approvals gave formal approval to 17 Special Economic Zones, including those of Vedanta and DLF. Decision on Reliance, Mukesh Ambani promoted Navi Mumbai SEZ has been deferred for want of more information on measures proposed by the promoters to plug revenue leakages.

Apart from Navi Mumbai, five other SEZs that came for formal approval were deferred because of land issues.

The ones that secured approval are Vedanta Alumina and DLF's SEZs in Orissa, Suzlon’s two zones in Gujarat and Karnataka and Unitech’s IT SEZ in West Bengal.

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