Greemach awaits land clearance for SEZ in MP

Mumbai-based Greemach Infrastructure Equipment & Project Ltd is awaiting land clearance for its proposed IT-based special economic zone in Madhya Pradesh.

"The proposed investment in the project is approximately Rs 250 crore," said a top company executive.

The company is already in process of setting up a multi-product special economic zone (SEZ) in Indore, a cargo hub near Bhopal airport, development of proposed convention centre and an IT-based SEZ.

"We want private companies to bid for our SEZ at Indore. However, we are supporting all private companies interested in developing IT-based SEZs," Kailash Vijayvergiya, minister for Information Technology said.

The company has already been granted an in-principle approval for the project.

They are in process of acquiring land in Bhopal," a senior government official told Business Standard.

As many as three firms had been granted approval for developing IT SEZs in Madhya Pradesh. However, shortage of land in prime locality was one of the main hurdle in these SEZs, the minister said and added his government would support IT companies in acquiring land areas.

Gremach is engaged in rental of construction, earthmoving machineries to medium and large construction companies engaged in business of constructing, building of roads, airports, power projects, institutional & industrial complexes, multiplexes and residential buildings.

A late starter in IT development, the state has yet to attract investment in the sector. The state has less than 10 IT firms in its fold.

Although chief ministers of the BJP-ruled government made tall claims of attracting big-ticket proposals from IT majors like Wipro, Infosys etc, none has come out of the speech papers.

Only few IT companies are working with the state government-related projects, which are now redundant, for developing e-governance projects.