266 new proposals for SEZ likely to be cleared

Bangalore, Sep 26 (UNI) Union Ministry of Commerce Special Secretary Gopal Pillai today said that at least 266 new proposals for setting up of Special Economic Zones (SEZ) pending before the Ministry are likely to be cleared next month.

Speaking at an interactive session on SEZ by Bangalore Chamber of Industry and Commerce (BCIC) here, he said that the proposed SEZ's with an investment of USD 80 Billion in 16 States, would provide job opportunity for 18 lakh people.

He said that the Board meeting is scheduled for October 4.

So far 150 proposals have already been cleared, he said adding that 94 of them belong to IT sector.

Mr Pillai denied flourishing of real estate business in SEZs.

He said that till now an investment of more that USD 700 million was invested in the SEZs besides providing of 80,000 jobs in the existing SEZs.

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