4 June 2014
The Board of Approvals (BoA) for Special Economic Zones (SEZs) under Union commerce & industry ministry has extended the validity of three SEZ projects in Odisha by one year.
The three SEZs have been proposed by developers like Sesa Sterlite, Saraf Agencies and Odisha Industrial Infrastructure Development Corporation (Idco).
The BoA has extended the validity of formal approval for a sector specific SEZ by Sesa Sterlite for manufacture and export of aluminium at Bhurkamunda in Jharsuguda till May 22, 2015.
The 1.25 million tonne per annum (mtpa) aluminium smelter set up as a sector specific Special Economic Zone (SEZ) at Jharsuguda is lying idle presently for want of power.
The company had requested the Odisha government to allow the use of power from 2400 Mw coal-fired plant of Sterlite Energy to run the smelter.
The company has already invested Rs 12,000 crore on the smelter complex. The commissioning of the multi-product SEZ at Jharsuguda has been delayed considerably due to non-finalisation of the state specific SEZ policy.
Due to lack of the policy, various government departments were unable to extend the SEZ benefits. Commissioning of the SEZ facility promised to boost the local economy by generating business potential worth Rs 15,000 crore every year. Direct and indirect employment opportunities for nearly 12,000 persons are set to be created.
The facility is also expected to develop local infrastructure besides boosting numerous small scale enterprises. Since the Odisha government had granted its concurrence to grant the SEZ status to the smelter plant, Sesa Sterlite had pointed out earlier that the state SEZ policy should be applicable to the establishment.
The company had also suggested that developing and setting up of downstream industries in the area adjoining to the smelter should be made mandatory.
Similarly, Kolkata-based Saraf Agencies has got extension for its sector specific SEZ for mineral based industries at Chhatrapur in Ganjam district till May 22, 2015.
Saraf Agencies had proposed to set up a titanium dioxide plant at a cost of Rs 1200 crore. In the first phase, the company has decided to produce 10,000 tonne per annum (tpa) of high titanium slag and 6,000 tpa of high purity pig iron.
The BoA has also extended the approval of Idco’s IT and ITes (IT enabled services) SEZ at Gaudakashipur and Arisal villages in Khurda district up to April 24, 2015.
Courtesy of Business Standard
4 June 2014