27 SEZ developers seek more time to execute projects.

As many as 27 special economic zone developers, including Gulf Oil Corporation, Navi Mumbai SEZ and DLF Info Park have sought more time from the government to execute their projects.

These proposals will be taken up for consideration by the Board of Approval (BoA), headed by Commerce Secretary Rajeev Kher in its meeting on July 24. The BoA is a 19-member inter-ministerial body that deals with Special Economic Zones (SEZs) and the issues related to them.

Some developers have cited reasons like imposition of minimum alternate tax (MAT), poor response of entrepreneurs for setting up unit due to global economic slowdown, problems of land acquisition and environmental clearances for delay in implementing the projects.

DLF Info Park (Pune) Ltd. has sought further extension of the validity period of formal approval, granted for setting up of IT/ITES SEZ in Maharashtra, according to the agenda of the BoA meeting.

Similarly Navi Mumbai SEZ Pvt Ltd. has sought more time for its proposed zones in Maharashtra.


BS