Date:23/09/2008 URL: http://www.thehindu.com/2008/09/23/stories/2008092356041600.htm

Business

Formal approval to ten IT, ITeS economic zones

Special Correspondent

Approvals envisage Rs. 72,000 crore investment
Bharat Forge’s multi-product
SEZ gets nod

NEW DELHI: The Centre on Monday cleared 28 more special economic zones (SEZs), a majority of those belonging to the information technology and IT-enabled services (ITES) sector. Fresh approvals envisage an investment of over Rs. 72,000 crore.

In its meeting, the Board of Approval (BoA) of SEZs, headed by Commerce Secretary G. K. Pillai, considered 35 proposals, including six proposals for conversion of in-principle approvals into formal approvals. It granted formal approvals to 18 projects and in-principle approvals to ten.

Formal approvals were granted to ten IT and ITeS SEZs — Diamond Software Developers Pvt. Ltd., R.C. Infosystems Pvt. Ltd., (both in Uttar Pradesh), Mikado Realtors Pvt. Ltd., Orient Craft Infrastructure Ltd. (both in Haryana), Cavalcade Properties Pvt. Ltd. and Sun Infrastructure Pvt. Ltd. (both in Maharashtra).

Other IT and ITeS SEZs cleared are that of Jay Gee Hitech Infraventures Pvt. Ltd. in Tamil Nadu; Shipra Estate Ltd. in Punjab, while two IT, ITeS, electronic hardware and software SEZs will come up in Gujarat of Myron Realtors Private Limited and Mexus Corporation Pvt Ltd.

The Centre has also cleared a multi-product SEZ by Bharat Forge; a multi-services SEZ by Essel Infraprojects and an engineering SEZ by MIDC.