Rajesh B. Nair

Centre’s approval received

PUDUCHERRY: The government has completed land acquisition for the Special Economic Zone at Karasur.

Project officer Ashok told The Hindu that the government had acquired 830 acres in the revenue districts of Sedarapet and Karasur. “We have received formal approval from the Union Ministry of Commerce. Once the Ministry notifies the project, the work will commence.”

The land has been handed over to the Puducherry Industrial Promotion Development and Investment Corporation. The Union Ministry of Home Affairs has to take a decision on 23.6 acres of poromboke land before the corporation takes possession of the land. The government has incurred Rs. 74 crore towards the cost of land acquisition.

Mr. Ashok said the government had floated a Special Purpose Vehicle, comprising the corporation and two private companies. While the companies, Subash Projects and Marketing Limited, Bangalore, and Om Metals Infraprojects Limited, New Delhi, would hold a 74 per cent stake, the rest would be with the corporation.

Jayakumar, Chief Executive Officer of the Pondicherry Special Economic Zone Limited (PSEZL), said Jurong, a Singapore-based private consultancy, had been engaged to develop the master plan.

The PSEZL expected an initial investment of Rs. 2,300 crore for providing the infrastructure in the SEZ. On the road connectivity, Mr. Jayakumar said there was a plan to provide a link to the Puducherry-Tindivanam Road, which is being converted into a four-lane.

Several multinational companies have evinced interest in setting up shop in the SEZ.