Mumbai-SEZ now seeks one more extension SEZ India Invest
MUMBAI: Mumbai-SEZ has sought yet another extension for its multi-product special economic zone on 5,000 hectares land in Khopta, Raigad district.
"The state government has recommended the proposal. Now, the final decision will be taken by the board of approval in a meeting on May 22," a senior industries department official told TOI on Friday.
Mumbai-SEZ was granted in-principle approval in August 2006. It was granted two extensions up to August 7, 2009. Despite the fact that though there was no provision for a third extension in the SEZ Act, as a special case, Mumbai-SEZ was granted fresh extension from the last date of the last extension (August 8, 2009). While the validity of the last extension expires on August 7, 2012, the firm has approached the board of approval for yet another extension for completing the land acquisition process.
According to the board of approval agenda circulated to all states, of the 5,000 hectares of land, the Mumbai-SEZ has acquired 1,874 hectares, which is not contiguous and needs more time to complete the acquisition process. "We have already invested Rs 1,800 crore for the project. Therefore, we may be granted extension up to August 7, 2013, for completing the process,'' the company submitted before the board of approval.