Govt nod for 17 SEZs

Ranbaxy, Cadila, Biocon proposals get clearance.

The government has cleared 17 proposals for setting up special economic zones (SEZs),  including one each by Ranbaxy, Zydus Cadila and Biocon, with investments of at least Rs 3,000 crore. Proposals for two free-trade warehousing zones, to be set up by IL&FS at Kandla and Chennai, were also approved.

Biocon's 80-acre biotech SEZ at Bangalore envisages an initial investment of Rs 1,200 crore. Zydus Cadila's 12-acre SEZ in Gujarat would come up with an initial investment of Rs 375 crore, which was projected to rise to Rs 1,600 crore, officials said.

Ranbaxy proposes to set up an 80-acre biotech SEZ at Mohali in Punjab, with an initial investment of Rs 675 crore.

Similarly, Cognizant Technology's proposal to set up an SEZ, spread over 28 acres in Chennai, with an initial investment of Rs 675 crore, was approved by the government. The company has informed the government that its SEZ will create 15,000 jobs.

Real estate developer DLF's proposal for four SEZs was also cleared. While its proposed SEZs at Gurgaon and Chennai were cleared, those in Maharashtra and West Bengal were given an in-principle approval. An information technology SEZ by the Kerala government near Kochi was also approved.

A proposal by Oriental Textiles to set up an SEZ on 400 acres near Gurgaon also got clearance today. This SEZ is expected to generate another 15,000 jobs.

An IT SEZ near Pune and another SEZ by a consortium of shoe manufacturers near Chennai were cleared.

Officials said a port-based SEZ at Vallarpadam in Kerala was also cleared. The proposal had been awaiting clearance for over a year.

The government today also decided to insist on a minimum land area of 25 acres for IT, biotech and gems and jewellery SEZs because of a large number of proposals coming in, officials told Business Standard. The government has deferred its decision on 23 SEZs as they have been found to be too small in size.

Similarly, the area restriction for multi-product SEZs had been pegged at 1,000 hectares, officials said adding that the Board of Approval overruled a suggestion by the revenue department that the area limit for all SEZs should be 1,000 hectares.