Adani Ports re-applies for denotified SEZ at Mundra
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Adani Ports re-applies for denotified SEZ at Mundra

Last Updated: Sunday, February 10, 2013, 12:58
 
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Adani Ports re-applies for denotified SEZ at Mundra
New Delhi: Adani Ports and SEZ (APSEZ) has sought fresh approval from the government for 1,840 hectare multi-product special economic zone, which was denotified in October due to non-conformity with SEZ rules.

"We have sought permission for a new SEZ and have made several representations to the government. We hope to get the approval in the present quarter itself," APSEZ's Chief Financial Officer B Ravi told PTI.

Government sources said meanwhile that the Board of Approval (BoA), the apex body for SEZs, has not yet taken up the matter.

In October, the government had cancelled the 1,840- hectare, multi-product SEZ being developed by the Gujarat- based Adani Group firm at Mundra on grounds of violation of various SEZ norms.

They included the SEZ not conforming to contiguity norms and being in violation of the rule which requires the tax-free zone site to be vacant before approval is sought. The site was land-locked without means of proper transport.

Under the contiguity norms for the SEZs, a developer is required to develop the zone on a single tract of land. Besides, the land should be vacant.

The government had carried out an inspection of the site as well before arriving at the final decision.

Ravi said the issue of conforming to the contiguity norms has now been resolved and the company has made several representations to the government clearing its position.

"There is no issue now, we have made several representations to the government to clear our position," he said, adding that de-notification of the SEZ did not affect Adani Ports existing businesses.

The SEZ, which is adjacent to existing tax-free zone of the company at the same place, was first notified in March last year, and denotified in October.

PTI



First Published: Sunday, February 10, 2013, 12:58


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