RIL's Maha Mumbai SEZ proposal to get a year's extension
Wednesday, 08 August 2007, 19:30 IST
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New Delhi: Reliance Industries' proposal to establish a multi-product special economic zone (SEZ) in Maha Mumbai is to get an extension by a year from the government to enable it to reduce its size to 5,000 hectares to comply with new SEZ rules. "We would extend the Maha Mumbai SEZ for one year with the reduced size to 5,000 hectares ... The file is currently under process in the ministry," Commerce Secretary G.K. Pillai told reporters here Wednesday. Pillai also indicated that acquisition of land for the proposed SEZ should be carried on with proper consent of the owners that would be applicable to all SEZ developers. "All land negotiations have to be carried on with consent," Pillai said. The validity of the in-principle approval given to the Mukesh Ambani-promoted Maha Mumbai SEZ is scheduled to expire this week. The government came out with the new SEZ policy April 5 after an empowered group of ministers reviewed the act and limited the size of an SEZ to 5,000 hectares.
Source: IANS
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