Adani Seeks Partial De-Notification of Mundra SEZ; Ministry to Review
24 Jan 2025
2 Min Read
CW Team
Adani Ports & Special Economic Zone Ltd (APSEZ) has approached the central government, seeking the partial de-notification of 333.74 hectares out of its 8,282.77-hectare multi-product SEZ at Mundra, Gujarat. The proposal will be reviewed by the Board of Approval (BoA), the apex body for SEZs, chaired by Commerce Secretary Sunil Barthwal, during a meeting.
According to the meeting agenda, the request stems from challenges faced by units in the Electronics Manufacturing Cluster (EMC) within the SEZ, primarily due to intense competition in the solar market and large-scale dumping of solar equipment into India. These factors have rendered operations in the EMC economically unviable.
Mundra Solar Technopark, a co-developer, has requested the de-notification of the EMC area on an 'as-is-where-is' basis, citing the need for units to exit the SEZ format to remain viable. Gujarat state authorities have raised no objections to the proposal and have urged the application to be processed. The development commissioner of APSEZ has also supported the request.
As per SEZ Rules, 2006, the central government, upon the BoA鈥檚 recommendation, can modify or withdraw SEZ notifications if satisfied with the developer's application.
The BoA will also consider an extension request from Mundra Petrochem Ltd, APSEZ, for its Letter of Approval (LOA), originally issued in December 2021. The extension is sought due to delays caused by the COVID-19 pandemic. The project, which was rescheduled, is now reportedly progressing at full capacity.
SEZs, significant contributors to India's export economy, accounted for over one-third of the country's total exports in the previous fiscal year. Of the 423 approved SEZs in the country, 280 are operational, hosting 5,711 approved units. These zones operate as export hubs, treated as foreign territories for trade and customs purposes, with restrictions on duty-free sales within the domestic market.
(ET)
Adani Ports & Special Economic Zone Ltd (APSEZ) has approached the central government, seeking the partial de-notification of 333.74 hectares out of its 8,282.77-hectare multi-product SEZ at Mundra, Gujarat. The proposal will be reviewed by the Board of Approval (BoA), the apex body for SEZs, chaired by Commerce Secretary Sunil Barthwal, during a meeting.According to the meeting agenda, the request stems from challenges faced by units in the Electronics Manufacturing Cluster (EMC) within the SEZ, primarily due to intense competition in the solar market and large-scale dumping of solar equipment into India. These factors have rendered operations in the EMC economically unviable.Mundra Solar Technopark, a co-developer, has requested the de-notification of the EMC area on an 'as-is-where-is' basis, citing the need for units to exit the SEZ format to remain viable. Gujarat state authorities have raised no objections to the proposal and have urged the application to be processed. The development commissioner of APSEZ has also supported the request.As per SEZ Rules, 2006, the central government, upon the BoA鈥檚 recommendation, can modify or withdraw SEZ notifications if satisfied with the developer's application.The BoA will also consider an extension request from Mundra Petrochem Ltd, APSEZ, for its Letter of Approval (LOA), originally issued in December 2021. The extension is sought due to delays caused by the COVID-19 pandemic. The project, which was rescheduled, is now reportedly progressing at full capacity.SEZs, significant contributors to India's export economy, accounted for over one-third of the country's total exports in the previous fiscal year. Of the 423 approved SEZs in the country, 280 are operational, hosting 5,711 approved units. These zones operate as export hubs, treated as foreign territories for trade and customs purposes, with restrictions on duty-free sales within the domestic market.(ET)
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