Date:05/07/2008 URL: http://www.thehindu.com/2008/07/05/stories/2008070557420100.htm

Front Page

Land acquisition for SEZ by month-end

S. Ganesan

To attract investments to the tune of about Rs.5,000 crore over a seven-year period
It is expected to generate about 50,000 jobs

PERAMBALUR: Land acquisition for the multi-product special economic zone (SEZ), to be developed jointly by GVK Infratech Private Limited and the Tamil Nadu Industrial Development Corporation here is all set to be completed soon.

An area of 2,937 acres is being acquired for the project. Already, a major portion of the required land has been acquired and registered.

The lands are spread over the five villages of Pennakonam (South and North), Thirumanthurai, Peraiyur and Eraiyur, some 20 km away from here on the way to Chennai.

According to sources, just about 190 acres are yet to be acquired.

Some of the land owners, especially those with properties close to the Tiruchi-Chennai National Highway, were reluctant to part with their land, demanding a higher compensation.

The land owners, during recent talks with district officials, had agreed to sell their properties, the sources told The Hindu.

“The acquisition process has reached the final stages and we expect to complete it by the end of this month,” Collector Anil Meshram said when contacted.

The SEZ will cater to industries such as textile/garments, leather, engineering goods, pharmaceuticals, power, IT/ITES, iron and steel, fertilizers, chemicals, petrochemicals, floriculture, horticulture, electronics and communication.

The project is a joint venture between GVK and TIDCO, through a special purpose vehicle (SPV).

The project has received in-principle approval from the Board of Approval of the Union Ministry of Commerce and is expected to attract investments to the tune of about Rs.5,000 crore over a seven-year period.

The final approval will be obtained once land acquisition is over.

The SEZ is expected to generate about 50,000 jobs.