Reliance Industries has applied to the government to de-notify over 40 per cent of its special economic zone (SEZ) in Gujarat as it plans Rs. 45,000 crore projects in that area to cater to domestic market.
RIL’s multi-product SEZ is spread over 1,764.14 hectares. The company now wants partial de-notification of an area of 728.43 hectares, leaving 1,035.72 hectares of plan for the multi-product SEZ.
Sources said that in the de-notified area RIL plans to invest Rs. 45,000 crore in new projects that will cater to domestic demand.
An inter-ministerial board of approval (BoA), chaired by Commerce Secretary S.R. Rao will consider RIL’s proposal on January 18, sources said.
A company spokesperson could not be immediately reached for comments.