By IANS
New Delhi : After several deferrals, Mukesh Ambani's Reliance Industries Tuesday finally won approval from a high-level panel to build two large special economic zones (SEZ).
The group's multi-product SEZ in Gurgaon on the outskirts of New Delhi secured a formal approval from the Board of Approval chaired by Commerce Secretary G.K. Pillai, while another at Rewas in Maharashtra won an in-principle nod.
The proposals by Reliance Industries, India's largest private sector company, were among 42 proposals taken up by the board Tuesday, 24 of which were cleared, while nine others won in-principal approvals under the SEZ Act of 2005.
"Applicants for projects that have secured in-principal approvals will have to get back to the board with clarifications that may be sought so that they can be converted into formal approvals," an official spokesperson said. "The projects can come into force only after they are notified under the Act."
The panel also gave cleared Wipro's proposal for Hyderabad, GMR Hyderabad International Airport's proposal for Andhra Pradesh and Indiabulls Industrial Infrastructure's proposal for Nashik in Maharashtra.
Prominent proposals given in-principle approvals included Maharashtra Industrial Development Corp's (MIDC) engineering project in Satara, DLF's textile project in West Bengal and Indiabulls' multi-product SEZ in Thane.
Apart from Reliance, the only other company whose proposal was upgraded from an in-principle to a formal approval came from Satyavedu Reserve Infracity Private – for a 1,023-hectares SEZ at Nellore in Andhra Pradesh.