Twenty-two SEZ projects cancelled for no progress; 27 get more time
The Dollar Business Bureau The government has cancelled 22 projects for the setting up of special economic zones (SEZs) related to IT and engineering sectors. The projects, including 11 SEZs proposed in the national capital region (NCR), that were cancelled because their developers failed to make “satisfactory” progress. The decision to cancel these SEZs was taken after Commerce Secretary Rajiv Kher held a review meeting with the Board of Approval (BoA) on May 19. “The Board noted that the progress made by the developer is not satisfactory. The Board, after deliberations, decided to cancel the formal approval/notification, as the case may be, in these 22 cases,” said a statement released by Commerce Ministry. The board has also asked the developers to ...
