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In an attempt to leverage the growing potential in the engineering sector, OPG Power Gujarat Private Limited, a subsidiary of London-based power player, OPG Power Ventures PLC, has sought a change in sector for its special economic zone (SEZ) at Bhadreshwar in Mundra.
From the current sector of 'power', OPG Power Gujarat intends to change to 'engineering', approval of which has been sought from the Board of Approval (BoA) for SEZs in the Department of Commerce, under Ministry of Commerce and Industry.
OPG Power Gujarat had received an in-principle approval on December 5, 2012 for the sector-specific SEZ. According to the BoA, as on date, the developer has "completed 30-35% of the project work and invested Rs . 500 crores as works and placing order with BHEL for power plant".
"The developer has requested for change in sector considering strong potential for engineering sector in the area. DC KASEZ has recommended the proposals to be placed before BoA for its consideration," stated SEZ BoA in its upcoming agenda for the 59th BoA meeting to be held on August 30, 2012. The company intends to set up a 300 megawatt (Mw), i.e. two units of 150 Mw, coal-based power plant in the SEZ in Gujarat.
The company has acquired only part of the required land for the SEZ while it is in the process to acquire additional land.
It may be noted that recently, National Green Tribunal (NGT) had allowed the AIM-listed power player to go ahead with its 300 Mw power project at Kutch subject to its compliance to the terms and conditions laid down in the Environmental Clearance granted by the Gujarat State Level Impact Assessment Authority.
