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Union Budget 2011: 18.5% MAT on SEZ developers, units SEZ NewsThe demand for setting up Special Economic Zones in Maharashtra has fallen drastically due to introduction of new taxes on them by the Centre. As a result, over 27, 000 hectares acquired by the Maharashtra Industrial Development Corporation (MIDC) would soon be available for redistribution to the industries, said the Chief Minister, Mr Prithviraj Chavan, on Thursday. He was addressing an interactive roundtable meeting organised by the Federation of Indian Chambers of Commerce and Industry. FIRMS' RETHINK Mr Chavan said companies are rethinking about the SEZ model for growth due to new taxes being introduced by the Centre for SEZ areas. The older MIDC -controlled industrial estates would be upgraded and additional infrastructure would be added. More attention would be given to areas around Nagpur and Aurangabad for industrial development, he said. MIHAN PROJECT In Nagpur, the Multi-modal International Cargo Hub and Airport (MIHAN) project, which had run into difficulties, has now been restarted. Soon, the local airport will be upgraded to an international one with two runways. Aircraft maintenance, repair and overhaul facility is also being set up by Boeing there. At MIHAN, IT giants such as TCS, Mahindra Satyam, and Infosys are in the process of setting up their facilities, Mr Chavan said. The industrial area around Aurangabad is also being developed. A new international convention centre is being built by MIDC there. As the area is close to the Delhi Mumbai Industrial Corridor, it will have a locational advantage, Mr Chavan said. |
