Developers evince interest in SEZ projects

In a fast changing scenario in the country's economic activities, as many as five developers, including that of L&T Construction Equipment and Worldwide Oilfield Machine, have sought the government's nod to set up new special economic zones (SEZs) in the country. These applications will be taken up at the meeting of the Board of Approval (BoA) headed by Commerce Secretary Rita Teaotia very shortly, official sources said, elaborating that Worldwide Oilfield Machine has proposed to set up a sector-specific SEZ for engineering in Pune over spacious land parcel. The land is proposed to be purchased from agriculturists through negotiations. Similarly, L&T Construction Equipment (reality division) is keen to put up an IT/ITeS SEZ in Karnataka over 2.34 hectares. The other developers that have sought the commerce ministry approval include Embassy Property Developments, Horizon view Properties and Phoenix Embassy Tech Zone and they all have planned to set up IT/ITeS SEZs.