MEPZ SEZ Unit Approval Committee Approves ₹3,200 Crore Investment.

The Unit Approval Committee (UAC) of MEPZ SEZ, chaired by Alex Paul Menon, Development Commissioner of MEPZ SEZ, approved investments amounting to ₹3,200 crore on Tuesday. These investments are expected to create 7,700 jobs across various industry segments.

Among the approved investments, High Glory Footwear India Pvt Ltd, a subsidiary of Taiwan-based Pou Chen Corporation, stands out with a ₹2,850 crore commitment to establish a new unit within the SIPCOT SEZ in Kallakurichi. This investment is anticipated to generate 5,229 new jobs, significantly boosting the region’s economy, according to a company release.

The committee also approved investments for a diverse range of companies, including OLAM Agri Business Services Pvt Ltd in IT-ITES, Qualcomm India Pvt Ltd in the service sector, Ampturn Electrical Products Pvt Ltd, and Tata Consultancy Services (Unit-101). These investments span sectors such as warehousing and logistics, creating thousands of new job opportunities. Additionally, the UAC approved investments for two new Export-Oriented Units (EOUs): Aadhi Granites India Pvt Ltd and Vevin Granites Pvt Ltd, both in the granite processing industry.

In a move to enhance the investor and exporter experience, the UAC now ensures that qualifying units receive their Letters of Approval (LOA) on the same day during the UAC meeting review. This efficient process allows units to begin construction and operations more swiftly.

“We are committed to making the investment process as efficient as possible,” said Menon. “The speedy process and issuance of LOA on the same day aligns with our focus on ease of doing business and will undoubtedly attract new units to our industry, accelerating job creation.”

HBL