BOA grants two formal and one in-principle approvals

The Board of Approval of the Special Economic Zones (SEZs) met today consider proposals for setting up of Special Economic Zones and also to approve other miscellaneous requests pertaining to SEZs.

            Addressing the Board of Approval members, the Chairman informed that so far 577 formal approvals have been granted for setting up of SEZs out of which 325 have been notified. He further informed that over Rs.1,16,879 crore have been invested in the Special Economic Zones during this short span of time and direct employment of the order of 4,27,908 persons has been generated in the Special Economic Zones.  During the first quarter of current financial year, total export of Rs.39,411 crore approx. has been made from SEZs.

            In this meeting, 7 proposals for setting up of SEZ were considered.  The Board recommended grant of two formal approvals and one In-Principle Approvals.

·  Formal Approvals:

Ø  IT/ITES/BPO/EH - M/s. Brooke Bond Real Estates Private Limited SEZ at Bangalore, Karnataka.

Ø  EH/ITES - M/s. Karnataka State Electronics Development Corporation Ltd. at Shimoga, Karnataka.

·  In-Principle Approval:

Ø Solar SEZ - M/s. Lanco Solar Pvt. Ltd. at village Ramdaspur, Cuttak District, Orissa.

            Among other items, 9 proposals for grant of co-developer status were also approved. The Board decide to enlarge the list of default operations and also decided to authorise the Unit Approval Committee to approve the default operations. A notification in this regard is being issued separately.