SEZ would be dedicated to environment protection: PSL Ltd

Mumbai, June 5 (UNI) Welcoming the ''in-principle'' approval to Special Economic Zone (SEZ) at the port of Pipavav (Gujarat) by the Board of Approval (BoA), PSL Ltd today said the proposed zone at its existing land would be dedicated primarily to alternate energy products and services.

The alternate energy products such as biodiesel, solar, ethanol, wind generation, etc would be dedicated to the proposed zone, said the company's managing director Ashok Punj.

''The Union Government's approval exhibits foresight and willingness to address the issue of environmental pollution and ecological decline,'' Mr Punj said in a statement here.

Mr Punj said his application was one of the first in the country to propose the development of an exclusive enclave, dedicated entirely towards the advancement and expansion of environmental-friendly industries and their products.

''The research division of the company is actively geared towards in-house development of environmentally-sound technologies and products, and that one of the main reasons for early approval was because a majority of the land required for SEZ development was already under PSL ownership and occupation,'' he said.

PSL is looking at attracting diversified firms in the alternative energy sector - as also its related auxiliary industries - to Pipavav such that they may not only take advantage of the economic benefits of setting up manufacturing units/facilities in SEZs, but also the zone's close proximity to various centers of growth, both within and outside India.

Pipavav Port, currently under private ownership is also well connected by both road and rail to the domestic hinterland, and by virtue of its well-developed transportation and logistics infrastructure, is one of the leading ports within the State.

A key enabler for infrastructure and construction projects, PSL is engaged in various types of pipe coating and pipe manufacturing activities with plants in Daman, Kandla, Jaipur, Chennai, Kakinada, and Vishakhapatnam.

It is India's largest pipe maker by volume capability.

Earlier, BoA in its meeting, which was held in New Delhi this morning to consider 42 new applications for setting up of SEZs, gave its formal approval to 26 projects and ''in-principle'' approvals to nine such projects, including SEZ of Reliance and Wipro.

Prominent ''in-principle'' approvals granted include Gems and Jewellery SEZ by Gitanjali Gems Ltd in Maharashtra, Leather industry SEZ by MIDC in Maharashtra, Steel SEZ by Jaibalaji Sponge Ltd in West Bengal, Multi Services SEZ by Gitanjali Gems Ltd in Maharashtra, Multi product SEZ by Indiabulls Builders Ltd in Maharasthra, Textile SEZ by DLF Ltd in West Bengal and Multi product SEZ by Rewas Ports Ltd in Maharashtra.

UNI