Noida wants change in Ambani's SEZ proposal

The New Okhla Industrial Development Authority (Noida) has sought changes in the shareholding pattern of the Anil Ambani-led consortium that has applied for a 2,500-acre multi-product special economic zone within its jurisdiction.

A senior Noida official said some changes in the shareholding pattern were suggested today.

"It is only after the consortium agrees to the suggested changes that we will forward the application to the state government," said Sanjiv Saran, chief executive officer, Noida.

Saran explained that the consortium comprising three group companies, including Reliance Energy, had recently sent its application to Noida for approval.

According to Uttar Pradesh's month-old SEZ policy, any proposal for a zone of over 1,000 acres has to be first cleared by the authority. Only after that is done can the promoters seek approvals from the state government, which will then recommend the SEZ for clearance by the central board of approval.

When contacted, R-ADAG sources said the company had applied for a multi-product SEZ in Noida "a week or 10 days" ago and "was yet to hear from the authorities concerned."