RIL, Posco and Indiabulls
to apply afresh
NEW DELHI: The Commerce and Industry Ministry has refused to extend the in-principle approvals to as many as 11 SEZ projects, including that of Mukesh Ambani-promoted Reliance Haryana SEZ, Posco India and Indiabulls Infrastructure, asserting that the rules do not allow giving them more time for implementation.
Earlier, the Board of Approval (BoA) asked these developers to apply afresh along with recommendations of the respective State governments.
Present SEZ rules do not permit giving third extension.
The Reliance Haryana SEZ was given an in-principle approval way back in March 2006. Subsequently, two more extensions were given and the proposals were valid till March 2009.
The SEZ was to originally come up on 10,000 hectares at an investment of over Rs. 25,000 crore. Then the project size was subsequently scaled down to 5,000 hectares after the Government capped the size of SEZs. Posco India had approached the BoA for third extension to implement its Rs. 54,000-crore SEZ project in Orissa. Both these projects could not acquire land, the official said. Indiabulls Infrastructure Development has also been asked to approach the BoA again for its 2,429-hectare multi-product SEZ in Maharashtra.
The other developers which have to file fresh applications include Quippo Infrastructure Equipment and Nanded Gems SEZ in Maharashtra, India Steel Corporation SEZ in Gujarat, and Rockman Projects in Punjab.