SALEM: The preliminary initiative to establish a Special Economic Zone (SEZ) for stainless steel on the premises of the Salem Steel Plant has begun.

Steel Authority of India Limited (SAIL), it is learnt, has almost finalised a financial and leasing firm, which commands rich experience and expertise in such mega project conceptualisation and development. Hassle-free land is the rare advantage for this new SEZ that comes up on the surplus lands of the Salem Steel Plant (SSP). The SEZ will be insulated totally from any social and political tensions, which many other SEZs are facing. Example: the South Korean steel major, Posco's multi-product SEZ in Orissa is facing a stiff opposition from locals fearing displacement.

The Salem SEZ will focus on the fabrication industry. "SAIL has already set the ball rolling towards this. A few leading players both from the country and abroad have expressed their willingness to pitch their tents. Clearance from the Union Ministry of Industry and Commerce is awaited," says SSP's Executive Director P. M. Balasubramanian.

Only the surplus lands of 375 acres are being earmarked for the SEZ. He claims that the formation of SEZ on the surplus land will not hurt the Rs. 1,553-crore expansion project of the stainless steel giant. SSP owns more than 3,500 acres of land for its future industrial needs.

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