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March 31, 2008

Progress on leasing and sales shows robust demand for Ishaan's real estate portfolio | INRnews

Mumbai, India, March 31, 2008 - Ishaan Real Estate Plc ("Ishaan") is pleased to announce the leasing and pre-letting of a further 577,000 sq. ft. of office and retail space, increasing the total area of leased and pre-let space in its commercial and retail development projects to 2.4 million sq. ft. Tenants have also exercised options for 232,000 sq. ft. of the commercial space in its Mindspace developments in Navi Mumbai and Hyderabad.

March 11, 2008

Hiranandani Group announce Multiservices SEZ in Hyderabad | INRnews

Hyderabad, India, March 11, 2008 - Mumbai’s leading real-estate developers Hiranandani Group of companies have announced their plan to develop first of its kind 250 acre integrated ‘Hiranandani Upscale, Multiservices SEZ at Lahari, Hyderabad. The SEZ would be developed in association with Hyderabad based Lahari Infrastructure Ltd. Based on walk to work concept the SEZ would be integrated with vast landscaping and residential buildings apart from Schools, Hospitals and other recreational facilities. The project would require an investment of Rs 12,000 crores and would be completed in phases over a period of seven years.

March 10, 2008

Lanco Hills gives order for construction to Sembawang Infra | INRnews

Hyderabad, India, March 10, 2008 - Sembawang Infrastructure India Pvt Ltd has bagged the order for construction of an IT Tower in the Lanco Hills Technology Park Pvt Ltd’s IT Park in the SEZ area. To this effect Lanco Hills Technology Park Pvt Ltd and Sembawang Infrastructure India Pvt Ltd today signed an agreement for execution of the structural work of Tower 9 for their prestigious SEZ IT Park.

February 22, 2008

Bhiwadi industrial cluster attracts 3 brand new project | INRnews

Bhiwadi, India, February 22, 2008 - Smt. Vasundhara Raje, Hon’ble Chief Minister, Government of Rajasthan, today laid the foundation stone for setting up an IT / ITES SEZ by Somani Worsted Limited and manufacturing facilities of Jaquar Limited and Orient Craft Limited in Bhiwadi, Rajasthan. Dr. Digamber Singh, Hon’ble Minister of Industries, Rajasthan, also graced the occasion. The establishment of these projects is in sync with the vision of the recent Resurgent Rajasthan Partnership Summit and will give a boost to the rapid industrialization in the state.

February 15, 2008

Unitech consortium company gets 12,500 acres of land in West Bengal for Chemical SEZ | INRnews

Kolkata, February 15, 2008 - Unitech Ltd has announced that Government of West Bengal has given possession of about 12,500 acres of land at Nayachar Island (near Haldia) on February 15, 2008 to the developer PCR Chemicals Pvt Ltd for development of, inter alia, Chemical SEZ.

Unitech consortium company gets 12,500 acres of land in West Bengal for Chemical SEZ | INRnews

Kolkata, February 15, 2008 - Unitech Ltd has announced that Government of West Bengal has given possession of about 12,500 acres of land at Nayachar Island (near Haldia) on February 15, 2008 to the developer PCR Chemicals Pvt Ltd for development of, inter alia, Chemical SEZ.

February 12, 2008

Mahindra Lifespace to develop Sri Lanka SEZ | INRnews

Mumbai, India, February 12, 2008 - Mahindra Lifespace Developers Ltd has announced that at a high powered delegation of Indian Industrialists and Heads of Indian Corporates, led by Hon'ble Shri. Jairam Ramesh, Minister of State for Commerce, to Sri Lanka, an agreement was signed in Colombo, between the Board of Investments of Sri Lanka, and Mahindra Lifespaces Developers Ltd (MLDL) for developing a Special Economic Zone (SEZ) in Sri Lanka, at Katunayeke. The SEZ will be stretched over 65 acres, for a mixed-use development, including an IT Park having a strategic advantage of being located opposite the Bandarnayake International Airport. This SEZ would bring about development of around 3 million sq. ft of built space, and more importantly generate over 35,000 jobs in the country. The Agreement was signed by Hon. Dr. Sarath Amunugama, Minister of Enterprise Development and Investment Promotion, Sri Lanka and Mr. Arun Nanda, Vice Chairman of MLDL, in the presence of Shri. Jairam Ramesh.

February 08, 2008

MARG unveils plans for new city - “MARG Swarnabhoomi” in Tamil Nadu | INRnews

Chennai, India, February 08, 2008 - MARG Ltd; (formerly MARG Constructions Limited) announced the launch of its mega infrastructure project – “MARG Swarnabhoomi” off the East Coast Road near Chennai.

January 22, 2008

Farmers to set up own SEZ near Pune | INRnews

Pune, India, January 22, 2008 - Farmers in a village near Pune, Avasari Khurd, have been given an in-principle approval from the State Government to set up an SEZ. Farmers decided to take this step to unlock the value of nearly 3,500 acres of barren land said to be worth Rs. 900 crores.

January 21, 2008

BOA of SEZs grants 11 formal and 1 in-principle approvals | INRnews

New Delhi, India, January 21, 2008 - The Board of Approval of the Special Economic Zones (SEZs) met here today to consider proposals for setting up of Special Economic Zones and also approve other miscellaneous requests pertaining to SEZs. In this meeting, 19 proposals for setting up SEZs, including 2 proposals for conversion of in-principle approvals to formal approvals were considered. The Board recommended grant of 11 Formal approvals (including 2 requests for conversion of In-Principle Approvals to Formal Approvals) and 1 In-principle approval of a Multiproduct SEZ by Reliance Haryana SEZ Limited in Jhajjar District, Haryana.

Elcot to develop 50,000 sq ft at IT SEZ in Tirunelveli | INRnews

Chennai, India, January 21, 2008 - The Electronics Corporation of Tamil Nadu (Elcot) is to construct over 50,000 sq ft of space at the Tirunelveli IT SEZ by June this year at a cost of Rs 15 crore. The Tamil Nadu government is keen to develop smaller cities like Tirunelveli, Salem, Madurai as IT destinations to leverage the talent pool available there.

Sri City to develop 5,000 acre SEZ near Chennai | INRnews

Chennai, India, January 21, 2008 - Sri City Pvt Ltd, an enterprise promoted by Mr Ravindra Sannareddy, Chairman, Megasoft Limited, is planning a 5,000 acre multi-product SEZ in North Chennai at a cost of Rs 2,500 crore.

Trikona Trinity Capital gets SEZ status for Delhi IT Park | INRnews

New Delhi, India, January 21, 2008 - Trikona Trinity Capital PLC (AIM: TRC), a fund created for investing in real estate and real estate related entities across India, has announced that the Board of Approval in India conferred IT Special Economic Zone ("SEZ") status upon the Company's Uppal IT Park "Tech Oasis" (Development Project 1) on 16th January 2008.

January 13, 2008

Two new SEZs proposed in Punjab | INRnews

Chandigarh, January 13, 2008 - Real Estate Developers Ansal Properties & Infrastructure (API) and Ishan Developers & Infrastructure (IDI) have proposed two new SEZs in Punjab with an investment of Rs 2,367 crore.

January 10, 2008

EOU/SEZ sector accelerates economic growth: Minister | INRnews

New Delhi, India, January 10, 2008 - Shri Kamal Nath, Minister for Commerce and Industry, has stated that the EOU/SEZ Sector is playing a very important role in encouraging manufacturing activity, providing substantial employment opportunities, thereby accelerating the pace of economic growth. The units set up under these schemes are already providing direct employment to over 6.5 lakh people. He was speaking at the Export Awards function, organised by the Export Promotion Council for EOUs and SEZ Units (EPCES), here last evening. Shri R. Gopalan, Additional Secretary, Department of Commerce; Shri R.S. Gujral, Director General of Foreign Trade (DGFT); Shri T. Vasu, Chairman, EPCES and Shri L.B. Singhal, Director General of EPCES, apart from Development Commissioners of various EPZs and SEZs were present on the occasion.

January 03, 2008

Parsvnath Developers to set up Pharma SEZ in Nanded, Maharashtra | INRnews

New Delhi, India, January 03, 2007 Parsvnath Developers Ltd has announced that in pursuance to development of SEZs, Parsvnath SEZ Ltd (PSL), a subsidiary of the Company, will develop a Pharmaceutical Special Economic Zone (SEZ) at Nanded in Maharashtra. The Company has received LoI from Maharashtra Industrial Development Corporation (MIDC), a Maharashtra Govt. Undertaking for development of Pharma SEZ project in krushnoor Industrial Area of Nanded which is in close proximity to the SH-6 connecting Nanded and Secunderabad.

January 02, 2008

BOA grants 24 formal and 4 in-principle SEZ approvals | INRnews

New Delhi, India, January 02, 2008 - The Board of Approval of the Special Economic Zones (SEZs) met on 2nd January 2008 to consider proposals for setting up of Special Economic Zones and also approve other miscellaneous requests pertaining to SEZs.

December 20, 2007

Unitech Corporate Parks Plc announces strong interim results | INRnews

London, UK, December 20, 2007 - Unitech Corporate Parks Plc (AIM: UCP), one of the leading investment companies focusing on commercial real estate in India, announces interim results for the six months ended 30 September 2007.

December 18, 2007

AP has the best policies for developing SEZ : Dr. Geeta Reddy | INRnews

Hyderabad, India, December 18, 2007 - Confederation of Indian Industry, Andhra Pradesh along with Andhra Pradesh Industrial Infrastructure Corporation (APIIC) organised a one day conference – The SEZ Forum 2007 focusing on the various issues pertaining to the impact of SEZs in economic development.

December 17, 2007

DS Kulkarni and GTC Real Estate NV to develop 250-acre SEZ in Pune | INRnews

Pune, India, December 17, 2007 - DS Kulkarni Developers Ltd has announced that the Board of Directors of the Company at its meeting held on December 15, 2007, has approved the Term Sheet executed last month between the Company and GTC Real Estate NV for Joint Development of a 250-acre Multi Services SEZ at Pune.

December 14, 2007

SEZ policy plays a very crucial role in the inclusive growth of nation’s Economy | INRnews

Jaipur, India, December 14, 2007 - Describing the success of the SEZs in India, Mr Anil Mukim, Joint Secretary, Ministry of Commerce and Industry, Govt of India said that the response from Indian SEZs has been tremendous. The Government has already formally approved 404 SEZs, of which 172 have been notified. About 60 of these have already generated direct employment of about 52,000 and indirect employment of 1,00,000. With growth likely to be exponential, these numbers could shoot up to 150,000 by March 2008 and to 600,000 by the end of 2009. He also expected the foreign direct investment in SEZs to increase 3-4 fold within the next year. He added that from the government’s perspective, SEZs have been a success. He was speaking at the inaugural session of Conference on SEZ organised by CII.

December 05, 2007

Ishaan Real Estate PLC half year report | INRnews

Mumbai, India, December 05, 2007 - Ishaan Real Estate plc has released an interim report for the six months ended 30 September 2007. The key highlight is completion of 100% of investment in the initial portfolio with £133.2 million invested in eight projects across Mumbai, Hyderabad, Pune and Bangalore.

December 03, 2007

SEZs have been a success: G K Pillai | INRnews

New Delhi, India, December 03, 2007 - Describing the success of the SEZs in India, Mr Gopal Krishna Pillai, Secretary of Commerce, Ministry of Commerce and Industry, India said that the response from Indian SEZs has been tremendous. The Government has already formally approved 404 SEZs, of which 172 have been notified. About 60 of these have already generated direct employment of about 52,000 and indirect employment of 1,00,000. With growth likely to be exponential, these numbers could shoot up to 150,000 by March 2008 and to 600,000 by the end of 2009. He also expected the foreign direct investment in SEZs to increase 3-4 fold within the next year. He added that from the government’s perspective, SEZs have been a success.

November 30, 2007

Omaxe forays into SEZ development | INRnews

New Delhi, India, November 30, 2007 - Omaxe, one of India’s leading real estate companies with footprints in 30 towns and 9 states today announced its foray into development of Special Economic Zone (SEZ) by signing Memorandum of Understanding (MoU) with the Government of Rajasthan to develop a multi product SEZ in District Alwar of Rajasthan spread over the area of 5000 hectare.

November 19, 2007

Ishaan invests in 4.5 million sq ft of commercial development space in India | INRnews

Navi Mumbai, India, November 19, 2007 - Ishaan Real Estate plc today announces that it has concluded its investment in an IT SEZ (Special Economic Zone) in Navi Mumbai, on which a development of up to 4.5 million sq ft of commercial space is planned.

November 05, 2007

Parsvnath Developers - Parsvnath SEZ Ltd inks MoU with Government of Madhya Pradesh | INRnews

New Delhi, India, November 05, 2007 - Parsvnath Developers Ltd has announced Parsvnath SEZ Ltd (PSL), a subsidiary of the Company has signed a MoU with the Government of Madhya Pradesh to provide facilities and incentives at the 76 acres SEZ being developed, by the Company at Indore.

October 30, 2007

DLF announces financial results for Q2 FY08 | INRnews

New Delhi, India, October 30, 2007 - DLF Limited, India’s largest real estate Company, recorded consolidated revenues of Rs 3,349 crore for the quarter ended September 30, 2007, an increase of 7.3% from Rs 3,121 crore in the first quarter of the current fiscal. EBIDTA was at Rs 2,363 crore, an increase of 5% as compared to Rs 2,251 crore in Q1 FY08. Net profit stood at Rs 2,018 crore, up by 32% from Rs 1,524 crore. The non annualized EPS for the quarter was Rs 11.83.

October 19, 2007

BOA of SEZ grants 10 formal and 3 in-principle approvals | INRnews

New Delhi, India, October 19, 2007 - The Board of Approval of the Special Economic Zones (SEZs) has recommended grant of 10 formal and 3 in-principle approvals here today. The Chairman of the Board, while informing the members stated that including the latest SEZ approvals a total of 395 SEZs formal approvals have been granted. He further informed that out of these, 156 SEZs have been notified and investment of Rs.50,906 crore has taken place in these notified SEZs providing direct employment to over 72168 persons.

October 18, 2007

GMR Infrastructure net operating revenues up 26 % in Q2 FY 2008 | INRnews

Bangalore, India, October 18, 2007 - GMR Infrastructure Limited (GIL), India’s premier infrastructure bell weather company announced its financial results for the first half year and second quarter ended September 30, 2007 today. Commenting on the results Mr. G.M. Rao, Group Chairman, said “Our numbers are growing as per expectations. The present results reflect only a small aspect of the true operating potential of our assets and as more of our businesses are operationalised to optimum capacity, we are confident of posting substantial growth in performance, thereby resulting in continued value accrual for all our stakeholders. However, we continue to consolidate our position as an innovative Infrastructure player, moving in rapidly to identify domestic as well as international investment opportunities.”

October 09, 2007

Parsvnath Developers - Parsvnath Dehradun SEZ gets notified | INRnews

New Delhi, India, October 09, 2007 - Parsvnath Developers Ltd has announced that the Company has received the final Notification from the Central Government for the setting up of IT / ITES SEZ at Sahastra Dhara Road at Dehradun (Uttaranchal). With this, the Company now has three notified product specific SEZs for IT / ITES Sectors at Indore, Gurgaon and Debradun, which will be executed by the Company's Subsidiary, Parsvnath SEZ Ltd.

CCEA approves $250 million FDI in SKIL Infrastructure | INRnews

New Delhi, India, October 09, 2007 - The Cabinet Committee on Economic Affairs today gave its approval for M/s. SKIL Infrastructure Ltd., Mumbai to accept foreign investments from M/s. GL Asia Mauritius II Ltd., Mauritius upto 26% amounting to US$250 million (Approx.Rs.1000 crore) by way of issue of 1 lakh interest accruing secured convertible debentures of Rs.1 lakh each for making downstream investments in M/s. Mumbai SEZ Ltd., M/s. Navi Mumbai SEZ Ltd., M/s. Pipavav Shipyard Ltd., M/s. SKIL Himachal Infrastructure and Tourism Ltd., M/s. Gujarat Positra Port Company Ltd. and M/s. Logistics Project; or in such other projects which are compliant with the Foreign Direct Investment policy of the Government of India.

October 01, 2007

Ishaan Real Estate Plc secures pre-letting agreement for Mindspace IT SEZ, Navi Mumbai | INRnews

London, UK, October 01, 2007 - Ishaan Real Estate Plc ("Ishaan") is pleased to announce that it has signed a new letter of Intent with a leading ITES company for 360,000 sq. ft. (including 220,000 sq. ft. under option) at Mindspace IT Park (SEZ development), Airoli, Navi Mumbai.

September 22, 2007

SAIL to develop steel SEZ in Salem, Tamil Nadu | INRnews

Chennai, India, September 21, 2007 - Steel major SAIL has signed a Memorandum of Understanding (MoU) with IL&FS Infrastructure Development Corporation (IIDC) to form a special purpose vehicle (SPV) to develop, operate and maintain a special economic zone (SEZ) dedicated to the steel sector.on 250 acres near SAIL’s Salem, Tamil Nadu plant.

September 21, 2007

Developers promote walk-to-work in Hinjewadi, Pune | INRnews

Pune, India, September 21, 2007 - Hinjewadi, the fast developing IT-hub of Pune, is to get commercial-cum-residential developments that promote the walk-to-work concept.

September 19, 2007

Modern India to set up an IT SEZ at Khopoli near Mumbai | INRnews

Mumbai, India, September 19, 2007 - Modern India Ltd has announced that the Company is planning to set up an IT / ITES SEZ (Information Technology / Information Technology Enabling Services) (Special Economic Zone) on about 15 Hectare of land at Khopoli. This project will be implemented through a wholly owned subsidiary Company viz Modern India Property Developers Ltd.

September 18, 2007

Vrindavan Tech Village to lease out 280k sq ft in Bangalore IT SEZ | INRnews

Bangalore, India, September 18, 2007 - Vrindavan TechVillage, one of the largest notified IT/ ITES SEZ in Bangalore announced their agreement to lease 280,000 sq ft to Outsource Partners International (OPI). Vrindavan TechVillage is a world class, 106 acre notified IT / ITES SEZ approved commercial development in Bangalore.

September 17, 2007

Moser Baer to set up Rs 2000 crore plant at Sriperumbudur SIPCOT SEZ | INRnews

Chennai, India, September 17, 2007 - Optical disc manufacturer Moser Baer India will set up a Rs 2000 crore solar photo voltaic plant at Oragadam-Sriperumbudur SIPCOT SEZ near Chennai. The plant will come up on a 125 acre site in 2009. In the first phase the company will set up a “single thin film” solar fabrication facility.

September 03, 2007

Parsvnath receives notification for Gurgaon IT SEZ | INRnews

Gurgaon, India, September 03, 2007 - Parsvnath Developers Ltd has announced that that the Company have received the final notification from the Central Government for the Company IT / ITES SEZ at Gurgaon (Haryana), in the name of the Company Subsidiary, Parsvnath SEZ Ltd. With this, the company now has 2 notified SEZs for IT / ITES sectors at Indore and Gurgaon.

CII in Taiwan to explore investment in Indian SEZ | INRnews

New Delhi, India, September 03, 2007 - Coinciding with the ‘Invest India Mission’ to Taiwan, a Confederation of Indian Industry (CII) business delegation led by Gopal Srinivasan, Director, TVS Electronics Limited, is currently in Taiwan on a three-day visit to project India as an attractive investment destination. The eleven-member team is exploring possibilities of Taiwanese investments in Indian Special Economic Zones, as that country is seen as one of the largest growing economies in Asia.

August 30, 2007

BOA of SEZ grants 20 formal approvals and 7 in-principle approvals | INRnews

New Delhi, India, August 30, 2007 - The Board of Approval of the Special Economic Zones (SEZs) in its meeting held here today has recommended grant of 20 Formal approvals and 7 In-principle approvals. In all 31 applications for setting up SEZs, which included 4 proposals for conversion of in-principle approvals to formal approvals, were considered.

August 24, 2007

Nokia CEO opens healthcare center in Sriperumbudur SEZ in Chennai | INRnews

Chennai, India, August 24, 2007 - Mr. Olli-Pekka Kallasvuo, President and CEO, Nokia Corporation, the world leader in mobile communications, today laid the foundation stone of a state-of-the-art healthcare centre at the Nokia Telecom SEZ Park in Sriperumbudur, Chennai. Also present on the occasion were Mr. David Cheung, Vice President & Operations & Logistics, Nokia Asia Pacific, Mr. Sachin Saxena, Director, Operations, Nokia India and Mr. D Shivakumar, Vice President & Country General Manager, Nokia India.

August 23, 2007

Mahindra Gesco appoints COO | INRnews

Mumbai, India, August 23, 2007 - Mahindra Gesco Developers Ltd. (MGDL), a subsidiary of the Mahindra Group, today announced the elevation of Ms. Anita Arjundas as Chief Operating Officer of Mahindra Gesco Developers Ltd. Ms. Arjundas has played a significant role in developing Mahindra World City, Chennai as the preferred destination for corporates in her capacity as the COO of India's first Special Economic Zone (SEZ). She will be based out of Chennai and will report to Mr. Pawan Malhotra, Managing Director & Chief Executive Officer of Mahindra Gesco.

August 21, 2007

DLF unveils its first IT SEZ in Mihan, Nagpur | INRnews

Nagpur, India, August 21, 2007 - DLF Ltd has announced the launch of its first IT SEZ at Nagpur. DLF is developing state of the art, world-class facilities in Nagpur, Maharashtra on 140 acres of land. This is the second IT SEZ project in the state and will be followed by projects in other cities in Maharashtra.

August 20, 2007

Ansal Properties signs agreement with IIML for Gurgaon real estate projects | INRnews

Mumbai, India, August 20, 2007 - Ansal Properties & Infrastructure Ltd, a leading real estate developer in India, has announced that the Company has signed two Agreements with IL&FS Investment Managers (IIML), the private equity arm of IL&FS to develop two Projects of Township and IT SEZ in Gurgaon, Haryana. The agreement was singed in Mumbai by Mr.Pranav Ansal, Director, Ansal API with IILM.

August 17, 2007

Indiabulls Real Estate plans projects across India | INRnews

Mumbai, India, August 17, 2007 - Indiabulls Real Estate Limited (IREL) with projects covering a total land area in excess of 10000 acres is one of the largest listed real estate companies in India and a leading national player across multiple realty and infrastructure sectors. IREL projects include High-end Office and Commercial Spaces, Premium Residential Developments, Integrated Townships, Luxury Resorts and Special Economic Zones. INRnews summarises the various projects Indiabulls Real Estate is undertaking.

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August 16, 2007

DLF strikes the largest real estate deal with potential value in excess of Rs 12,000 crores | INRnews

New Delhi, India, August 16, 2007 - DLF Ltd has announced that the Company has entered into an agreement to acquire a project consisting of 38 acres of land from DCM Shriram Consolidated Ltd. "DSCL" & Lohias Group for Rs 1,675 crores (approx). The property was a landmark known as Swatantra Bharat Mills and DCM Silk Mills. As per internal estimates of the Company, this acquisition coupled with the previous acquisition of contiguous plots, will add Rs 4,000 crores to its NAV. It will also increase the NAV of the existing IT SEZ project by Rs 1000 crores, thereby the total cumulative NAV increasing by Rs 5,000 crores.

Delhi mill land to be sold to DLF in Rs 1600 crore real estate deal | INRnews

New Delhi, India, August 16, 2007 - Indian real estate major DLF Ltd is close to finalising the largest private sector land deal in the country. According to the Economic Times, DLF is to purchase about 38-acres of Delhi mill land from DCM Shriram Consolidated for Rs 1,600 crore.

August 10, 2007

Infosys IT SEZ amongst 6 approvals granted | INRnews

New Delhi, India, August 10, 2007 - The Board of Approval of the Special Economic Zones (SEZs) met on August 8 to consider proposals for setting up of Special Economic Zones and also approve other miscellaneous requests pertaining to SEZs. In this meeting, 8 applications for setting up SEZs, including 3 proposals for conversion of in-principle approvals to formal approvals were considered. The Board recommended grant of 4 Formal approvals, including two IT/ITES SEZ by Infosys, and 2 In-principle approvals.

August 09, 2007

SEZs a boon for economic growth and infrastructure development: EPCES | INRnews

Mumbai, India, August 09, 2007 - According to a Research study conducted by Export Promotion Council for EOUs and SEZ Units (EPCES) the Government Policy on Special Economic Zones is here to stay and is one of the most promising opportunities for generation of Employment, Economic Growth and Infrastructure Development for the country.

August 06, 2007

GMR Infrastructure signs MOU with TIDCO for a Multi Product Special Economic Zone (SEZ) in Tamil Nadu | INRnews

Chennai, India, August 06, 2007 - GMR Infrastructure Ltd has announced that the Company on August 06, 2007 entered into an Memorandum of Understanding (MOU) with Tamil Nadu Industrial Development Corporation (TIDCO) for the development of a Multi Product Special Economic Zone (SEZ) in Krishnagiri District, Tamil Nadu. The signing ceremony was done in the presence of the Chief Minister of Tamil Nadu, Shri. M Karunanidhi at the Secretariat in Chennai.

August 04, 2007

Parsvnath to set up IT SEZ in Madhya Pradesh | INRnews

Indore, India, August 4, 2007 - Parsvnath Developers Ltd has announced that the Department of Commerce, Ministry of Commerce and Industry, Government of India, vide its Notification dated July 26, 2007, has notified the area measuring 30.981 hectares for the purpose of setting-up a sector specific Special Economic Zone for Information Technology and Information Technology Enabled Services (situated at village Lasudia Parmar, Tehsil Sanwer, District Indore, Madhya Pradesh) by the Company's Subsidiary Company viz. Parsvnath SEZ Ltd pursuant to Sub-section (1) of Section 4 of the Special Economic Zones Act, 2005 read with rule 8 of the Special Economic Zones Rules, 2006.

July 30, 2007

Parsvnath Developers records 180% increase in net profit at Rs 102 crore for Q1 FY08 | INRnews

New Delhi, India, July 30, 2007 - Parsvnath Developers Ltd, India’s leading real estate developer with a pan India presence, recorded consolidated revenues of Rs 414.46 crore for the quarter ended June 30, 2007, an increase of 66.44% from Rs 249.01 crore in the corresponding quarter last fiscal. EBITDA was at Rs 152.14 crore, an increase of 162.31% as compared to Rs 58 crore in Q1 FY07. Net profit stood at Rs 102.18 crore, up by 179.56% from Rs 36.55 crore. The non annualized EPS at the end of the quarter was at Rs 5.53.

July 26, 2007

DLF to develop its first IT SEZ in Gandhinagar, Gujarat | INRnews

Gandhinagar, India, July 26, 2007 | DLF Ltd., India’s largest real estate developer, today, announced the launch of its first IT SEZ at Gandhinagar in Gujarat. DLF is developing state of the art, world-class facilities in Gandhinagar covering an area of 25 acres of land and offers 2.5 million sq ft of developed workspace, with an estimated investment of Rs. 850 crores, the IT SEZ project will be developed over two phases.

July 19, 2007

Greater commercial space to be available in Chennai in 2007 | INRnews

Chennai, India, July 19, 2007 - The commercial property market in Chennai is to see 9.1 million sq.ft of new space available in 2007 versus only 7 million sq.ft the previous year. Another 3 million sq.ft of space is to be delivered in Q1 2008. Close to 50% of the total projected supply has already been pre-commited to or absorbed, indicating robust demand in the city for office space. according to real estate services firm Cushman & Wakefield.

July 18, 2007

Overwhelming response to sale of residential space in Manikonda, Hyderabad | INRnews

Hyderabad, India, July 18, 2007 - The offer for sale of residential apartments at Manikonda, Hyderabad by LANCO Hills Technology Park Pvt Ltd – a 74% subsidiary of LANCO Infratech Ltd (LITL) – has received tremendous response according to a company release. About 4 million square feet of residential space has been booked within three days of the opening of the bookings to the public.

Bangalore commercial property market looks strong | INRnews

Bangalore, India, July 18, 2007 - The commercial property market in Bangalore is looking strong for rentals and capital values. According to real estate services firm Cushman & Wakefield, rentals are up 27% and capital values are up 38% in the CBD over a year ago. While over 17.4 million sq.ft of office space is to be available in Bangalore in 2007, there is no new space coming up in the CBD area and as little as 259,000 sq.ft space off-CBD. With low supply, vacancy levels in the CBD stand lower than 3%.

July 17, 2007

Mantri Realty gets approval for 44 acres IT Park at Nagpur | INRnews

Nagpur, India, July 17, 2007 - Mantri Realty has got the government nod to build a 44 acres IT/ITES SEZ at Butibori Industrial Area at Nagpur. This SEZ would be implemented through its 100% subsidiary Suyog Realtors Ltd. The land has been acquired and the project has achieved financial closure with a total outlay of Rs 780 Crore.

July 09, 2007

TSI Ventures launches commercial real estate project in Gachibowli, Hyderabad | INRnews

Hyderabad, India, July 09, 2007 - TSI Ventures, a 50:50 joint venture between the global real estate developer Tishman Speyer and ICICI Venture, a private equity and venture capital management company, has launched its first Indian project, a world class office facility "WaveRock" in Hyderabad.

July 08, 2007

GVK signs MoU with Tamil Nadu Industrial Development Corporation to set up multi-product SEZ in Perambalur | INRnews

Hyderabad, India, July 08, 2007 - Infrastructure development firm GVK today signed a memorandum of understanding (MoU) with TIDCO, an Undertaking of the Government of Tamil Nadu to jointly develop a multi-product Special Economic Zone (SEZ) in Perambalur district. The MoU was signed in the presence of Dr. M. Karunanidhi, Chief Minister of Tamil Nadu by Mr. G.V Krishna Reddy, Chairman, GVKPIL and Mr. S. Ramasundaram, Chairman Tamilnadu Industrial Development Corporation Limited (TIDCO).

June 22, 2007

Formal approval granted to 36 SEZs; in principle approval to 9 | INRnews

New Delhi, India, June 22, 2007 - The Board of Approval (BOA) of the Special Economic Zones (SEZs) met here today to consider proposals for setting up of Special Economic Zones and also approve other miscellaneous requests pertaining to SEZs. In this meeting, 53 applications for setting up SEZs were considered and 36 Formal approvals and 9 In-principle approvals were granted.

June 19, 2007

Tripex Overseas to set up pharma SEZ unit in Valsad, Gujarat | INRnews

Mumbai, June 19, 2007 - Tripex Overseas Ltd has announced that the Company plans to set up a SEZ unit near Valsad (South-Gujarat). The Company Plans to set up a bulk drug and formulation manufacturing plant with an initial investment of Rs 200 crore.

June 12, 2007

Uppal Group - Luxor Group SPV signs MoU with Trinity Capital, to develop Gurgaon SEZ | INRnews

New Delhi, India, June 12, 2007 - A special purpose vehicle (SPV) formed by Delhi based real estate Uppal Group and Luxor Group, today announced the signing of a memorandum of understanding (MoU) with Trinity Capital (PLC), a US based boutique investment banking and restructuring firm. The two companies also announced divestment of their partial shareholding in the SPV in favor of Trinity Capital for over Rs. 300 crore. The SPV was floated by the two companies to develop 10 million sq. ft. on a 67-acre plot for their upcoming notified SEZ’s in Gurgaon.

June 06, 2007

Indiabulls Real Estate to develop SEZ in Nashik and Thane in Maharashtra | INRnews

Mumbai, India, June 06, 2007 - Indiabulls Real Estate Ltd has announced that Indiabulls Industrial Infrastructure Ltd, a wholly-owned subsidiary of the Company focused on development of large scale infrastructure projects, has received a Formal Approval from the Department of Commerce (SEZ Section), Ministry of Commerce & Industry, Government of India, for development of a multi-product Special Economic Zone (SEZ) in the Nashik District of the State of Maharashtra.

June 05, 2007

26 Formal and 9 in-principle SEZ approvals granted | INRnews

New Delhi, India, June 05, 2007 - The Board of Approval for the Special Economic Zones (SEZs) met here today to consider proposals for setting up of Special Economic Zones and also approve other miscellaneous requests pertaining to notified SEZs.

May 25, 2007

WTO views on SEZ rebutted, $8 billion investment in SEZ already made | INRnews

New Delhi, India, May 25, 2007 - In the 15 months since the Special Economic Zones (SEZ) Act and Rules were notified on 10th February 2006, investments of the order of $ 8 billion have already been made and another $25 billion investment is underway. This was indicated in the reply on behalf of India by Shri G.K. Pillai, Commerce Secretary, at the World Trade Organisation (WTO) Trade Policy Review Meeting for India in Geneva today.

April 19, 2007

TCS to expand in Hyderabad – Plans “State-of-the-Art” Campus for 15,000 seats | INRnews

Hyderabad, India, April 19, 2007 - Tata Consultancy Services (TCS), a leading IT services, business solutions and outsourcing organization, announced that it had signed a Memorandum of Understanding (MOU) with the Government of Andhra Pradesh to acquire 75 acres of land to develop a state-of-the-art development facility near the new international airport in Hyderabad. TCS will invest up to Rs 400 crore in the facility to create a capacity of 15,000 seats at Adibatla, which is part of Andhra Pradesh Industrial Infrastructure Corporation (APIIC) promoted Special Economic Zone.

April 18, 2007

Ascendas to invest S$570 million in two IT park projects in Maharashtra, India | INRnews

Mumbai, India, April 18, 2007: Ascendas, Asia’s leading business space solutions provider, today announced plans for two major business parks in Maharashtra. The projects comprise joint ventures with government agencies: A partnership with the Maharashtra Industrial Development Corporation (MIDC) for an IT Park in Pune and a second joint venture with the Maharashtra Airport Development Company (MADC) for an IT Park in Nagpur. Both these projects are located within Government-promoted and approved SEZ areas.

April 05, 2007

Freeze on SEZs lifted - ceiling on size fixed at 5000 hectares | INRnews

New Delhi, India, April 05, 2007 - The Empowered Group of Ministers (EGOM) on Special Economic Zones (SEZs) met here today and discussed various issues relating to SEZs. It decided, inter-alia, to lift the current freeze on SEZs, with tighter rules and prescribed a ceiling on the size of SEZs, which has now been fixed at an upper limit of 5000 hectares.

March 16, 2007

Urban Infrastructure Real Estate Fund to raise $500 million | INRnews

Mumbai, India, March 16, 2007 - A Mauritius based fund with feeder funds in Jersey, the Urban Infrastructure Real Estate Fund (UIREF), is targeting to raise USD 500Mn for investment in the real estate sector in India.

March 15, 2007

Consensus Needed on Land Acquisition Policy, says ASSOCHAM | INRnews

New Delhi, India, March 15, 2007 - Expressing deep sorrow over the killing of 11 people at Nandigram, ASSOCHAM President, Mr. Venugopal N. Dhoot appealed to all political parties to find out an amicable solution and resolve the land acquisition issue for SEZs, instead of politicising which will dampen the industrial development of the state.

FICCI survey shows a 5-10% rise in real estate prices expected | INRnews

New Delhi, India, March 15, 2007 - A majority of Indian CEOs and CMDs do not foresee a collapse in the prices of real estate and disregarded the rising trend as a "bubble" according to a survey by industry chamber FICCI. The survey was conducted amongst leading real estate consultancy firms, developers, construction companies, builders and financial institutions.

February 27, 2007

Apprehensions on SEZS can be addressed through appropriate policies | INRnews

New Delhi, India, February 27, 2007 - The Economic Survey 2006-07 has called for appropriate sequencing to sustain popular support for reforms and reconciling the conflicting interests of the various reforms constituencies. Commenting on the recent debate about the Special Economic Zones (SEZs), the Survey has said that many of these apprehensions could be addressed through appropriate policies and safeguards.

February 22, 2007

HCL Tech to set up 170 acre campus in Mihan SEZ at Nagpur | INRnews

Mumbai, India, February 22, 2007 - Leading IT company HCL Technologies is to invest Rs.500 crore to set up a 170 acre campus in the Mihan SEZ in Nagpur. The company has signed a MoU with the Maharashtra Government to this effect. The facility is expected to generate employment for 10,000 people within five years.

February 08, 2007

1,000 acre Aerospace SEZ to come up in Karnataka | INRnews

Bangalore, India, February 8, 2007 - Karnataka Chief Minister, Mr H.D. Kumaraswamy, has announced that the Karnataka Government is looking to set up a 1,000 acre Aerospace SEZ in the State.

January 23, 2007

Centre Awaiting Land Acquisition Package From States For SEZs | INRnews

New Delhi, India, January 23, 2007 - Indian Union Minister for Commerce & Industry, Mr. Kamal Nath has said that the Central government was awaiting details of a land acquisition rehabilitation package from the State governments for farmers whose land is acquired for the creation of SEZs.

January 03, 2007

Indian real estate boom of 2006 to further roll in 2007 | INRnews

New Delhi, January 03, 2006 - The real estate boom of 2006 is set to multiply itself in 2007 to get India a foreign capital of over Rs. 8000 crore with leading international investors establishing their presence in its richly rewarding real estate development, providing new employment opportunities for over 2 lakh skilled and unskilled workforce, according to estimates made by The Associated Chambers of Commerce and Industry of India (ASSOCHAM).

Government forms company for land acquisition in West Bengal | INRnews

Kolkata, January 03, 2006 - The West Bengal government has floated a company 'West Bengal Land Holdings' to acquire acres of land required for industrial projects and SEZs in the state.

January 01, 2007

250 SEZs languish for approvals in 21 states | INRnews

New Delhi, January 01, 2006 - As many as 250 proposals to create Special Economic Zones (SEZs) in 21 States are still languishing for their approvals from various government, mainly due to disputes on compensation package and acquisition of agriculture land in the absence of suitable relief and rehabilitation package, according to an analysis conducted by The Associated Chambers of Commerce and Industry of India (ASSOCHAM).

December 14, 2006

RR Industries to set up Rs 4,500 crore township in Madurai | INRnews

Chennai, December 14, 2006 - RR Industries is to set up a Rs.4,500 crore IT township in Madurai in Tamil Nadu. This was announced by the company at a press conference on Wednesday.

December 11, 2006

Cognizant to expand infrastructure in Hyderabad | INRnews

Hyderabad, December 11, 2006 - IT major Cognizant is to invest over Rs.140 crores to expand its facilities in Hyderabad according to its CEO Lakshmi Narayana. The company plans to add 500,000 square feet of office space on a new campus to be built in a SEZ.

December 07, 2006

Unitech seeks funding to invest in real estate projects valued at Rs.41 billion | INRnews

Mumbai, December, 7 2006 - Leading real estate developer Unitech Ltd is seeking funding from affiliates of Unitech Corporate Park, Plc, a newly incorporated Company in the Isle of Mann, for investment in real estate projects including one Information technology Park and five potential IT Special Economic Zone projects in Noida and Gurgaon in the National Capital Region and in Rajarhat in Kolkata. Unitech Corporate Park, Plc is seeking admission of its Ordinary Shares on the London Stock Exchange’s AIM market.

December 04, 2006

Ganesh Housing signs MOU for development of IT SEZ in Gujarat | INRnews

Mumbai, December 04, 2006 - Ganesh Housing Corporation Ltd has announced that the Company has signed a Memorandum of Understanding (MOU) with the Government of Gujarat under Vibrant Gujarat — IT Summit 2006 for development of IT and ITES SEZ under the name and style of "MILLION MINDS" to be located at B/h Nirma University, Ahmedabad, Gujarat.

"MILLION MINDS" IT and ITES SEZ will spread over 125 acres and will involve an investment of about Rs 700 crores.

November 27, 2006

FDI’s share in Indian real estate to touch 26% By March 2007 | INRNews

New Delhi, November 27, 2006 : FDI’s share in domestic real estate market will touch about 26% by March 2007, 10% higher than levels of 16% for fiscal 2005-06. This is expected to be driven by the growing interest of global real estate players in the Indian real estate market and increasing demand for office space particularly in IT & BPO.

Ahmedabad - Gandhinagar road sees real estate development interest | INRnews

Ahmedabad, November 27, 2006 : The road connecting Ahmedabad airport to Gandhinagar is seeing strong interest from developers, attracted by its proximity to two key cities and excellent connectivity. IT facilities and hotels as well as educational/research institutions are being planned for this stretch.

November 24, 2006

Food Processing Ministry Moves Proposal To Create FTP On SEZs Lines | INRnews

New Delhi, November 24, 2006 : The Ministry of Food Processing Industries has moved a comprehensive proposal to give SEZ status to proposed mega Food Technology Parks with a provision of 50% produce for domestic consumption and remaining 50% for exports.

November 23, 2006

Aggressive growth ahead for Bangalore commercial and retail real estate | INRnews

Bangalore, November 23, 2006 : Aggressive growth is forecast for the Bangalore commercial and retail real estate by real estate services firm Jones Lang LaSalle (JLL). New supply will prevent the market from overheating.

November 22, 2006

Land allotted to pharma companies for SEZ in Andhra Pradesh | INRnews

Hyderabad, November 22, 2006 : Two pharamceutical companies, Aurobindo Pharma and Hetero Drugs have been allotted 75 acres of land each to be the anchor tenants of a proposed formulations SEZ at Jadcherla in Mahbubnagar district of Andhra Pradesh. The two companies will invest Rs. 200 crores to set up export oriented facilities with an employment potential of 2,000.

IT SEZ to come up on 550 acre site in Vadodara | INRnews

Vadodara, November 22, 2006 : Nipiam Infotech Private Limited is to develop a 550 acre IT SEZ at Nimeta in Vadodara in collaboration with a Singapore based company. The first phase of the project, to be completed within two years, will include an IT Park on 100 acres. The total project investment is in the range of Rs.2,600 crore.

November 16, 2006

SEZs future vehicle of economic growth - Minister | INRnews

Mumbai, November 16, 2006 - Shri Kamal Nath, Union Minister of Commerce & Industry, has said that Special Economic Zones (SEZs) are the future vehicle of economic activities. Addressing the 8th Ernst & Young Entrepreneur of the Year Awards function in Mumbai this evening, he said: “41 SEZs are already operational, while approvals have been given for more than 237 SEZs and about 244 proposals are before us. We are also conceptualizing very large regions termed Investment Regions for manufacturing which will provide world class infrastructure and give benefits, sizes and costing to units”.

November 10, 2006

Real estate major DLF to invest Rs 1,000 crores on Orissa IT SEZ | INRnews

Bhubaneshwar, November 10, 2006: The Orissa government has partnered India’s leading real estate developer DLF Ltd to set up the state’s first Special Economic Zone (SEZ) dedicated to Information Technology (IT).

November 02, 2006

HPCL to get 1,500 acres of land in Vizag SEZ | INRnews

Hyderabad, November 2, 2006 : Oil major, Hindustan Petroleum Corporation Limited (HPCL) will be allotted 1,500 acres in the Special Economic Zone at Visakhapatnam in Andhra Pradesh. HPCL is to set up a refinery, aromatic plant and naphtha cracker unit at an investment of Rs 35,000 crore on this site. This was decided at a meeting held on Visakhapatnam Special Economic Zone, chaired by Chief Minister YS Rajasekhara Reddy.

Cognizant to invest Over $200 Million in India real estate expansion | INRnews

Teaneck, NJ – November 2, 2006 – Cognizant Technology Solutions Corporation (NASDAQ: CTSH), a leading provider of IT services, today announced plans to further expand its infrastructure in India through an expansion of its existing real estate development program. As part of this program, Cognizant plans to develop state-of-the-art techno-complexes and expand its infrastructure in five cities – Chennai, Coimbatore, Hyderabad, Kolkata and Pune.

November 01, 2006

Timken to build $25 million manufacturing facility in Chennai SEZ | INRnews

Chennai, November 1, 2006 : The Timken Company (NYSE: TKR) today announced plans to build a new bearing manufacturing facility in India. The plant, which will be located in Chennai in the southern state of Tamil Nadu, will produce a range of antifriction bearings for global markets.

September 27, 2006

Modi invites Japanese companies to set up SEZ in Gujarat | INRnews

Ahmedabad, September 27, 2006 : Gujarat Chief Minister Narendra Modi today invited Japanese investors and industrialists to set up exclusive Special Economic Zones on the 1600 km long coastline of the State.

September 25, 2006

Gems and jewellery SEZ to come up in Kerala

Kochi, September 25, 2006: The Kerala Industrial Infrastructure Development Corporation (KINFRA) is to develop a gems and jewellery SEZ on 25 acres of land at the KINFRA Hitech Park in Kalamassery. KINFRA plans to provide land and infrastructure such as power, communication and water supply while a private sector developer would build the facilities. Aerens Goldsouk and Gitanjali Gems are amongst those reported to be interested in participation in the project.

September 22, 2006

14 more SEZs to come up across India

New Delhi, September 22, 2006: The number of SEZs in the country is set to rise to 164 with approvals granted by the Board of Approvals for SEZs for setting up 14 more zones. The Board has also finalized detailed guidelines for development of social infrastructure like schools, hospitals, housing etc in SEZs. The guidelines also call for developers to have a minimum net worth of Rs.250 crores and a minimum investment of Rs.1000 crores for a multi product SEZ. For sector specific zones, the minimum net worth and minimum investment have been set at Rs.50 crores and Rs.250 crores respectively. The objective of setting the guidelines appears to be to prevent these special economic zones from being just a real estate opportunity

Govt green light for 14 more SEZs | INRnews

Ahmedabad, September 22, 2006 : The Board of Approvals (BOA) under the stewardship of Union Commerce Minister Kamal Nath on Thursday approved 14 new proposals to set up Special Economic Zones (SEZs). With this, the total number of SEZs approved by the Union government has gone up to 164.

September 14, 2006

Gujarat has potential to emerge as global manufacturing hub | INRnews

Ahmedabad, September 14, 2006 : The central government has already approved 21 special economic zones (SEZs) in Gujarat. And more companies are coming forward with proposals for such zones. With an investment of more than Rs 1 lakh crore, employment generation for lakhs for people, the SEZs are expected to become future growth engines that will propel Gujarat as a global manufacturing hub, says D Rajagopalan, Gujarat’s principal secretary for industries and mines.

Nokia telecom SEZ to be set up in Sriperumbudur, Chennai

The Nokia Telecom SEZ coming up in Sriperumbudur outside Chennai will be ready by the end of next year. The facility will house key suppliers of Nokia as well as 20,000 workers according to Nokia's director of operations Jukka Lehtela.

September 11, 2006

With SEZs, Gujarat zones in on billions | INRnews

Ahmedabad, September 11, 2006 : Gujarat is fast becoming the hub for Special Economic Zones (SEZ) in the country. Though only Kandla and Surat SEZs are fully operational right now, the State plans to set up 25 SEZs. Of these, approval has been granted to 20-odd proposals which is likely to bring in initial investment of over Rs 700 billion.

September 08, 2006

India SEZ development - Ministry seeks to plug loopholes

The Indian Commerce Ministry to specify the size of residential and retail components of SEZs that are available for tax sops in a move aimed at preventing SEZ incentives from being exploited for real estate windfall gains.

Auto industry SEZ in Jharkhand notified

An automobile and auto components industry SEZ in Jharkhand has been notified. The Adityapur SEZ is being developed by the Adityapur industrial area development authority with Gammon and Jusco. The SEZ is is to come up on 36 hectares of land in the Saraikela Kharsawan district of Jharkhand.

September 07, 2006

Tata to set up Electro-Metallurgical SEZ in Orissa

The Tata Group plans to set up an SEZ focused on the Electro-Metallurgical business in over 2,500 acres of land that it owns in Gopalpur, Orissa. the focus of the Gopalpur SEZ would be on downstream steel and aluminium projects, titanium dioxide ancillaries and processing of cold-rolled steel sheets.

September 04, 2006

Notified SEZs at Siruseri near Chennai and at Indore in Madhya Pradesh

Hexaware's 11-hectare information technology Special Economic Zone (SEZ) at Siruseri near Chennai, has been notified. Another SEZ for Medicaps covering an area of 12.25 hectares at Indore in Madhya Pradesh has also been notified. This takes the number of notified SEZs to a total of 22. It may be recalled here, that the Board of Approval has given its stamp of clearance to 150 applications, already.

September 01, 2006

Visakhapatnam Steel Plant to set up SEZ

A Special Economic Zone (SEZ) with sole focus on steel production with ancillary and downstream units may be set up by Rashtriya Ispat Nigam Ltd at Visakhapatnam. The aim is to promote industrialisation in the district and improve employment opportunities in the region.

The expansion of the plant at a cost of Rs.8600 crores is scheduled for completion in 2009.

Belgaum, Karnataka to have SEZ

The Karnataka Industrial Area Development Board has been asked to sanction 250 acres of land near Belgaum city for a proposed Special Economic Zone (SEZ). It is hoped that an SEZ in the area will galvanize industrial progress and create job opportunities.

According to reports the state government is committed to implementing the proposed Kalsa-Bandur nala diversion schemes on which work would start before October 2, this year.

August 29, 2006

TN Govt to acquire 2,000 acres of land for projects including SEZ

The Tamil Nadu Govt. is planning to acquire 2,000 acres of land to meet the expansion of the industrial parks of SIPCOT at Sriperumbudur and Oragadam. Chief Minister M. Karunanidhi made this announcement in the State Assembly earlier this week. The Oragadam industrial park will be the site of a Special Economic Zone catering to the manufacture of automobile components.

August 26, 2006

Government of Maharashtra and Bharat Forge join hands to set up a multi-product SEZ in Pune District

Project to generate 120,000 new jobs.

Bharat Forge Ltd. (BFL), India’s largest manufacturer and exporter of automotive components today signed a Memorandum of Understanding (MoU) with the Government of Maharashtra to jointly develop a multi-product Special Economic Zone (SEZ) in Khed Taluka of Pune District.

August 23, 2006

SEZs in India - sky is the limit, says Govt.

The govt of India has now backed off from its earlier decision to limit to 150, the number of Special Economic Zones with unprecedented tax concessions that could be established within the country. The empowered Group of Ministers on Special Economic Zones (e-GoM) decided instead to welcome as many as would apply for the coveted SEZ status.

August 22, 2006

ONGC plans massive investment in Mangalore SEZ

Natural resources giant ONGC is planning a massive investment of Rs. 10,000 crore in the recently approved Mangalore multi-product SEZ that is to come up in 1,320 hectares of land. ONGC is the main promoter of this SEZ.

August 21, 2006

Commerce department seeks more than 150 SEZs

North Block disagrees, sees SEZs as tax havens

While the commerce ministry claims that 150 SEZs have been approved and a cap had been fixed on fresh approvals, revenue department officials distinguished between final approvals and "in-principle" nods. According to them, only 30-odd projects have got final notification. Thereby, it may be assumed, leaving space for further approvals especially if many SEZ proposals fall by the wayside.

August 19, 2006

HCL to invest Rs 500 crore for SEZs in Noida, Bangalore and Chennai

HCL Technologies has got approval to set up three special economic zones (SEZ) in India in the cities of Noida, Bangalore and Chennai. The company plans to invest Rs. 500 crore to set up the SEZs.

August 18, 2006

Sterling Biotech to build multi-product SEZ in Gujarat

A multi-product SEZ on 3,380 hectares of land in Jambusar, Gujarat has been proposed by Sterling Biotech at an investment of Rs. 1,600 crore. The SEZ will house priority sector industries such as chemicals and petrochemicals,metals, and steel.

The proposed SEZ is expected to provide jobs to 200,000 people and to achieve exports of Rs. 3,000 crore in the starting 4 years.

August 10, 2006

Board of Approvals approves 45 SEZ projects in India

The Board of Approval of Special Economic Zones has approved 45 special economic zone (SEZ) initiatives in a meeting earlier this week, taking the total number of approvals up to 150. Another 100 proposals are pending and 80 have been deferred.

August 08, 2006

Gujarat promotes itself as IT destination

Gujarat is attracting new investments in IT, thanks to government backing of the state as a cost-effective IT hub. Over 40 companies, including Microsoft and TCS are already present at Creative Infocity, set up in 2000, with more IT and IT-enabled services (ITES) and Business Process Outsourcing (BPO) companies coming in.

August 06, 2006

A 2,500 acre SEZ and expansion plans for ports in Chennai

The public sector Ennore Port Ltd. (ELT), Tidco and Sipcot are to jointly set up a 2,500 acre SEZ in North Chennai. The TN govt has been approached for approval and waiver of Sales Tax for enterprises located in the zone.

Karnataka Government inviting private companies to set up SEZs in Bangalore, Hubli

The government has approached companies such as Infosys, Mahindra and Mahindra to run Special Economic Zones (SEZs) in Bangalore, Hubli and Dharwad, according to Minister for Large and Medium Industries K S Naidu. Real Estate groups like Adarsha and Prestige are also on the guest list.

169 SEZ proposals come up for approval on August 8

Special Economic Zones (SEZs) in various segments such as multi-product, information technology, biotechnology and frontier areas of technology adding up to 169 proposals in all will be examined by the Board of Approval. The Board is chaired by the Special Secretary in the Department of Commerce, Mr Gopal K. Pillai.

August 05, 2006

Approval sought for R&D SEZ in Bangalore

Approval has been sought for the development of an R&D SEZ on 1,000 acres of land near Bangalore. The Rs. 700 crore project - "Gandhi City" - has been mooted by a group of people from the IT industry and Private Equity firms.

August 03, 2006

IL&FS signs MoU to establish SEZs in Bihar

Infrastructure Leasing and Financial Services Ltd (IL&FS) and the Bihar Government have signed a MoU to develop three special economic zones (SEZ) in the state including two product specific and one multi-product SEZ. The SEZs would be developed through public-private partnership with both partners sharing risks and rewards.

Hiranandani plans to set up 100-acre IT SEZ in city

Mumbai-based Hiranandani Group proposes to set up a 100-acre special economic zone (SEZ) outside Mumbai, subject to approvals. Approvals are not necessarily a given at this stage since there is already a surfeit of IT SEZs with 66 having already been approved so far.

Indian Government approves 105 SEZ proposals

The government has approved 105 special economic zone (SEZ) proposals of 388 applications received according to Minister of State for Commerce, Jairam Ramesh. In terms of the number of proposals Maharashtra has the most at 63, followed by Haryana -54, Andhra Pradesh -53, Karnataka -51 and Tamil Nadu -42.

See other SEZ News on INRnews.com

Mangalore the next IT hub in Karnataka

A 2 million sq.ft SEZ will be created at Ganjimath in Mangalore by Nitesh Estates. The SEZ will house IT companies and plans to provide employment to over 10,000 people. Mangalore is seen as an emerging IT/ITES and BPO destination with major international investors and multinationals eyeing the city as a potential regional business hub.

Corporate majors expand in Hazira

Expansion plans running into hundreds of crores worth by four major companies - Essar, L&T, Kribhco and Shell - will hit Hazira over the next four years. Concerns over the availability of land to meet these expansion needs were voiced in official government meetings in May and it is not clear if it will be easy to meet the land acquisition needs of these companies.

Vatika's IT park SEZ for Jaipur

Six months from now, the first phase of Vatika's $860 million IT park is expected to commence along the Ajmer Road in West Jaipur. The self-contained IT park on 53 acres of land promises to provide complete infrastructure facilities from power supply, water supply and sewage treatment to service apartments and banks. The IT Park has won government approval as a SEZ with all the tax and duty exemptions that go along with it.

August 02, 2006

Finolex to develop IT SEZ in Pune

Finolex Industries plans to develop an IT SEZ on land that it owns in Pune according to Assistant Managing Director S.S. Dhanorkar. The development would help the company unlock the value of the company's land holding. The company is seeking to partner with property developers from India or abroad to develop the 78-acre plot.

Uttar Pradesh government opens SEZ development to private sector

The U.P. Government has approved the Special Economic Zone Policy, 2006, that actively solicits the involvement of the private sector in development of SEZs by offering incentives and exemptions to promoters. The policy also seeks to cut short approval time and reduce delays in implementation of new SEZ projects.

August 01, 2006

West Bengal government inks infrastructure deal with Salim group led consortium

The West Bengal government has signed an agreement with a Salim group led consortium for setting up mega infrastructure projects in the state. The agreement was signed between the state government, WBIDC, and the New Kolkata International Development Pvt Ltd - a SPV promoted by Indonesian Salim group together with the Universal Success group and Unitech.

Real estate major Unitech in massive land deal

Real estate major Unitech is set to announce India's largest real estate deal at a sticker price of well above Rs. 2,000 crore. The land deal is said to surpass earlier mega deals including Unitech's Rs. 1,568 crore Noida Expressway deal, Reliance Industries Rs, 1,100 crore Bandra-Kurla deal and DLFs Rs. 702 crore deal for NTC mill land.

Navi Mumbai SEZ to house international financial services hub

An integrated financial services hub, modeled on Hong Kong and Dubai, is being planned within the Navi Mumbai SEZ promoted by Mukesh Ambani of Reliance Industries and others. The facility will boast infrastructure facilities on par with international standards including a trading exchange, infrastructure, high speed telecom facilities, security, and office infrastructure.

July 31, 2006

Five new SEZ facilities for Gujarat

Gujarat Chief Minister, Mr. Narendra Modi is wooing investors to the state with its good power supply, extensive road network and port facilities. He also has assured investors of speedy clearances for investment proposals in the state. Speaking at a program organised by SICCI, Mr Modi indicated that five new special economic zones are planned in Gujarat, in addition to the twenty two existing SEZs. The new SEZs will be located near ports.

See other SEZ Related News on INRnews.com

Pharmaceutical and Engineering SEZs to come up near Ahmedabad

Dishman Pharma plans to develop two special economic zones (SEZ) at Sanand near Ahmedabad. One SEZ will be dedicated to the pharmaceutical sector and the company already anticipates European and US companies to set up units there. An engineering SEZ is also planned adjacent to the pharma SEZ. The company has already acquired 600 acres of land for the SEZ initiatives.

July 29, 2006

Gems and jewellery SEZ to be set up in North West Delhi

The Delhi State Industrial Development Corporation (DSIDC) is developing a special economic zone (SEZ) focused on the gem and jewellery business on 150 acres of land in Baprola, North West Delhi. The SEZ is expected to come up in three years and will require an investment of Rs. 300-400 crore. The SEZ would include a gem testing lab, assaying and hallmarking centre, marketing space for designers and a business centers.

See other SEZ Related News on INRnews.com

Exclusive Leather SEZ to be set up in Andhra Pradesh

Mr Jairam Ramesh, Union Minister of State for Commerce, has announced the setting up of an exclusive leather SEZ at Tada in Nellore district, Andhra Pradesh. The SEZ would be a joint venture between the Andhra government, a consortium of shoe manufacturers and the Tatas. The Tatas are said to be putting up an initial investment of Rs. 100 crore for the project.

Goa allots land for pharma and biotech parks, and SEZ

The Goa Assembly was informed by Industries Minister Luizinho Faleiro that the Goa Industrial Development Corporation (GIDC) has allotted more than 11.8 million square metres of land for the development of a pharma park/Special Economic Zone at Keri and other biotech parks in the State.

July 28, 2006

New SEZ planned near Haldia, West Bengal and in Gopalpur, Orissa

A new ship building facility & SEZ is proposed to be built of 1,500 acres of land near Haldia in West Bengal. Mr. P.K. Ruia the promoter is seeking an allocation of 1,500 acres of land from the government for this purpose. The project entails an investment of Rs. 1,000 crore.

In the meantime, Tata Steel has proposed an SEZ on 3,000 acres of land in Gopalpur, Orissa. The focus of the SEZ woiuld be metal manufacturing and ancillary development. The project is expected to cost Rs. 8,000 crore.

May 14, 2006

Don’t make SEZ real estate scams - Kiran Karnik

Writing in the Economic Times, Kiran Karnik President of Nasscom raises valid concerns about the the rapid development of SEZs and the need to ensure that the SEZ schemes get implemented right. Rather than focus on minimum requirements around exports, employment and investment, the criteria specified currently is on minimum land area. And this according to Mr. Karnik is likely to have the converse effect of maximising land acquisition by developers.

May 13, 2006

Mangalore SEZ attracts companies

Many companies from the manufacturing and service sectors have shown interest in setting up their units in the Mangalore SEZ. The Mangalore Refinery and Petrochemicals Ltd (MRPL) is the anchor investor in the Mangalore SEZ project. MRPL has envisaged projects such as an LNG terminal, C2-C3 separation units, and aromatic and olefin complexes in the petrochemical component of the SEZ.

Pharmaceutical and shipbuilding companies in the manufacturing sector, and various service sector companies have shown interest in setting up their units in general-purpose multi-product component of SEZ, according to news reports.

April 22, 2006

Property developers in India see large opportunities from SEZ growth

SEZs are latest hotspots for realty developers. Riding on total tax exemption, real estate developers are eyeing special economic zones (SEZs) as their next destination. Almost all developers worth their salt are making a beeline for a big bang plunge into development of SEZs. So much so, most haven’t even waited for project approvals before announcing mega IPOs considering the investment demands for such huge projects.

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