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The government is likely to cancel the approvals granted to nine companies, including Hindalco Industries, Essar and Adani, for setting up special economic zones (SEZs) later this month, because no work has been done to execute the projects.
The Development Commissioners (DCs) have recommended to the Board of Approval (BoA), which had granted the formal approval to these projects, to cancel these.
"However, since there is no significant progress made by the developer and co-developer, the concerned DC has proposed for cancellation of formal approval granted to the developer," the agenda of the BoA meeting said. The meeting is scheduled for September 18.
Hindalco Industries has proposed to set up an aluminium products SEZ in Odisha. The formal approval to the developer was granted in July 2007. The developer was granted extensions from time to time and the last extension granted expired on December 31, 2013.
"The developer did not make any request for extension. DC FSEZ (Falta SEZ) had taken up the matter with the developer, the last reminder was sent on August 13, 2014 giving 10 days' time... Since no communication has been received, DC has recommended for cancellation of formal approval of 115 hectares and in-principle approval for 740 hectares," it said.
