Mukesh Ambani's economic zone plan remains stuck

Mukesh Ambani's economic zone plan remains stuck

Thursday, 31 May 2007, 07:00 Hrs
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New Delhi: Twenty-three proposals for setting up special economic zones, including one for multi-product manufacturing from the Tatas, were formally approved by a high level panel that met here Thursday.

But a decision on the proposal from Reliance Industries chairman Mukesh Ambani and his friend Anand Jain for a multi-product special zone in Navi Mumbai was deferred by the Board of Approvals, chaired by Commerce Secretary G.K. Pillai, officials said.

In-principle approvals were also granted to six applications, including one for a multi-product zone in Alwar in Rajasthan from SRM Infrastructure and a multi-services zone there from the Society for Innovative Education and Development.

"Applicants for these projects will have to get back to the Board of Approvals with clarifications that may be sought so that the approvals can become formal," an official spokesperson said after the board's meeting.

"The projects can actually come into force only after they are notified under the act," the spokesperson said, adding: "The board considered 40 proposals today and converted one in-principle approval into a formal one."

Other important proposals on the agenda were the 2,024-hectare, multi-product zone of Shipra Estate in Aligarh and the 1,012-hectare multi-product zone of Indian Infrastructure Corporation in Gujarat.
Source: IANS
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