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MORE STATE SEZS MAY BITE THE DUST, FEARS GOVT

sez1Call it the domino effect. A day after the Maha Mumbai SEZ promoters failed to secure relief from the SC, the DF government fears that nearly a dozen SEZ projects may never see the light of day following their promoters’ inability to acquire land within the stipulated period. Certainly, if the Maha Mumbai promoters withdraw from the project, it will have an adverse impact on future investments in Maharashtra and land prices in the Konkan belt. Preliminary reports said, seven to eight promoters will have no option but to drop their proposals as they have not acquired the land. On the specific details of the projects in trouble, sources reveal that the project involved a total of 11,000 hectares, which would have attracted an investment of Rs 20,000 crore and generated ten lakh jobs. India Bulls, Urban Infrastructures, Videocon, Mahindra Realtors and Maharashtra Industrial Development Corp are among the firms which are likely to drop their proposals. India Bulls had proposed to set up two SEZs in Raigad and Thane, Urban Infrastructures had proposed an SEZ in Raigad, Videocon in Pune and Aurangabad. MIDC had proposed to set up an IT SEZ in Airoli and power SEZs in Raigad and Chandrapur. Sana Warsia – NMTV News.

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