Indore SEZ to choose strategic partner soon
Special Economic Zone Indore is about to finalise a strategic partner for its
development, S.K. Bansal, Joint Development Commissioner, SEZ Indore, disclosed.
During the fiscal year 2005-06 around Rs 145 crore worth exports took place at
the SEZ. The recent SEZ Act will help in administration of special economic
zones and attract more foreign direct investment.
Phase-I and phase-II of the zone comprise India's first greenfield SEZ which is
spread over 1,308 hectares. Indore SEZ is one of the fastest developing,
multi-product special economic zones. Phase-I of the development is complete and
is spread over 138.57 hectares, while development for phase-II will start any
Pratibha Syntex and IPCA have started construction of their units, while Cipla
will start construction of its unit during this year. Advance Bio-Chem, a Rs 40
crore unit, has also started construction of its units. Besides, Amula Exports,
SRF Ltd and Flexitufs are also operating in the zone. NTPC has committed to
supply 25-mw power in phases.
Indore SEZ enjoys benefit of location as it is located adjacent to the
industrial growth complex, Pithampur-Kheda, near Indore. It is also equipped
with a fully operational inland container depot managed by Container Corporation
of India. The depot is spread over 6.57 hectares and is a well-developed dry
SEZ Indore offers various tax, duty, foreign direct investment and functional
benefits and facilitates uninterrupted operation for the units. "The investor
will come to our SEZ since Madhya Pradesh is one of the best states to invest
in, with hardly any labour problems and bureaucratic hurdles," Bansal stated.
[19 June 2006]