(MENAFN- KNN India) Commerce Ministry to decide on cancellation of 62 SEZ projects during BoA meeting on Jul 3
New Delhi, June 26 (KNN) The Board of Approval, headed by Commerce Secretary Rita Teaotia, cancellation approvals of as many as 62 special economic zones (SEZs) including Cochin Port Trust as the developers have not shown interest in moving forward with the projects.
The decision would be taken in a meeting on July 3. BOA deals with issues related with SEZs.
According to the agenda note of the board's meeting, the developers have not requested for extension of their letter of approval (LoA), under which they can seek more time to execute their projects.
"As such it seems that the developers are not interested in the projects. The matter is placed before the BoA for further directions," the agenda said.
The agenda also said that Cochin Port Trust, which had planned to set up Free Trade and Warehousing Zones (FTWZ) in Kerala, has expressed its inability to proceed with the project. The development commissioner of Cochin Special Economic Zone has recommended for cancellation of this project.
Similarly, Delhi State Industrial & Infrastructure Development Corporation, Lark Projects, Mansarovar Industrial Development Corporation and Diamond IT Infracon have neither applied for LoA nor for notification of SEZ.
Development commissioner of Noida Special Economic Zone has also suggested for cancellation of these projects.
States like Tamil Nadu, Karnataka, Telangana and Maharashtra are home to the highest number of operational SEZs.
Till May 1, the government has approved as many as 421 zones, of which 218 are operational.
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