By IANS,
New Delhi : The government Monday cleared a proposal to set up 10 new special economic zones (SEZs), which included those of infrastructure major Larsen and Toubro.
The Board of Approval (BoA) chaired by Commerce Secretary G.K. Pillai also gave the nod for 11 investors to join as “co-developers” in SEZs across the country.
Three SEZs in Mundra, Gujarat have been allowed to merge after a clearance from the empowered group of ministers (EGOM). The combined area of the three SEZs, to be developed on an investment of Rs.1 trillion, would exceed the 5,000-hectare ceiling and thus required a clearance from the EGOM.
Pillai said the combined Mundra SEZ will induct six investors as co-developers with one SEZ among the three setting up a 300-MW power plant.
The SEZ Act 2005 provides for a single-window SEZ approval mechanism through a 19-member inter-ministerial SEZ Board of Approval (BoA). The commerce secretary is the BoA chairman.