Approval to POSCO SEZ entailing Rs 53,000 crore investment

New Delhi, Sep 20 (UNI) The Fifth Board of Approvals for Special Economic Zones (SEZs) met and accorded 18 formal and 13 in principal approvals for establishment of Special Economic Zones.

The in principle approvals granted include the proposal from Posco India Private Limited for setting up of a Multi- product SEZ in Jagatsinghpur District, Orissa, with an area of 1601.6 hectares. The investment would be of the order of more than Rs 53,000 crore.

The Board met here under the Chairmanship of Mr G K Pillai, Special Secretary, Ministry of Commerce and Industry, and Commerce Secretary designate.

"State government representatives at the Board of Approvals meeting said that lands involved in all these cases would be waste or barren lands or single crop lands only",an official release said here today.

The total number of formal approvals for establishment of SEZs till date totals 181 (163 earlier plus 18 today).

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