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Karnataka SEZ's

Opto Infrastructure plans Hassan SEZ

Opto Infrastructure Ltd is planning to set up a manufacturing SEZ in Hassan in Karnataka. It has invested Rs. 377 million towards land acquisition and on investment on infrastructure for Rs. 173 million. It planning to add IT/ITSEZ facilities in the SEZ and is planning to invest a further Rs. 5230 million. The SEZ will be completed by 2015. The company is also planning to set up a IT/ITES SEZ in Mysore in Karnataka. It has invested Rs. 150 million towards infrastructure.

Mahindra & Mahindra to develop Aerospace SEZ in Bangalore

Mahindra & Mahindra is planning to develop an Aerospace SEZ in Bangalore and is in talks with Karnataka government for the same. The company has recently forayed into aviation sector with acquisition of two companies to make aircraft. It has also recently opened a new facility to make aircraft components in Malur in the outskirts of Bangalore. According to sources, the state government has identified 1200 acres in Devanahalli near Bangalore airport. It may be noted, few other companies like BEML and Dynamatic Technology are investing to set up aircraft component assembly units here.

Ozonegroup Pharma SEZ to come up in Bangalore

Ozonegroup, a Bangalore based real estate player is planning to set up a pharma special economic zone (SEZ) in Chikaballapur, 30 kms away from new Bangalore airport. It is likely to house 40 pharma units and will have an area of 325 acres. The total project cost is estimated at Rs. 20000 million. The SEZ will offer multi sized plots to pharma companies. Out of 325 acres around 100 acres of land has been aggregated

Mangalore SEZ faces delay on land acquisition

Mangalore Special Economic Zone Limited (MSEZL) is facing opposition from the landholders who are resisting acquisition of their lands. MSEZ Ltd, a joint venture between the Oil and Natural Gas Corporation (ONGC), India’s largest oil producer, and the Karnataka Industrial Areas Development Board (KIADB) and infrastructure financing firm, Infrastructure Leasing & Financial Services, which has already seen a delay of over one year, is likely to be further delayed due to non-availability of the land required for the expansion. As a statutory requirement, any multi-product SEZ needs to have at least 2,500 acres. Presently, MSEZL has acquired 1,800 acres in the first phase for around Rs 700 crore. It has now notified another 2,000 acres in the villages of Permude, Kuthethoor, Tenka Ekkaru and Delanthabetta near Mangalore. The main argument of the landholders is that the compensation amount announced by the company is far below the market prices. Hardly 11 per cent of the land notified is agriculture land. I S N Prasad, managing director, MSEZ Ltd said, the company has got a written consent from farmers for about 800 acres and the joint measurement survey is being conducted for that land. Another 300 acres is with the state government and “there will be no problem in acquiring this land,” he said. “Some of the landholders are ready to sell their land, while many others are asking for a higher compensation. We have paid a compensation of Rs 8.5-9 lakh per acre in the first phase. Now, farmers are asking for Rs 14-15 lakh. We are considering the proposal to increase compensation. But, cannot double the compensation money,” he told Business Standard. Going by the present pace of land acquisition, the conversion of MSEZL into a multi-product SEZ will be delayed further. “We would have completed the process of developing this into a multi-product SEZ much earlier, but for the delay in land acquisition. The declaration of the SEZ as a multi-product SEZ is still far away as we are yet to even apply for the official status. We can do it only when we get 2,500 acres of land,” Prasad said. Till today, MSEZL has spent close to Rs 700 crore, about 45 per cent of the cost of the project. In the first phase land has been allotted to companies like Mangalore Refinery and Petrochemicals Limited for their refinery expansion, OMPL (ONGC Mangalore Petrochemicals Ltd) and Indian Strategic Petroleum Reserve Ltd (ISPRL) for development of petrochemical industries. MRPL has taken around 250 acres at the SEZ to expand their refinery for an investment of Rs 12,000 crore, OMPL has got 450 acres to set up an aromatics complex at Rs 6,800 crore investment.

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