New Delhi, May 24, 2008: The special economic zone (SEZ) of Steel Authority of India Limited (SAIL) at Salem in Tamil Nadu will be ready by 2010, Chairman S K Roongta, said on Friday.
“It will be spread over an area of 230 acres of land, and will be ready by 2010,” Mr Roongta told reporters here.
He said SAIL has the requisite permission of the Board of Approvals of Union Commerce & industry to develop the SEZ exclusively meant for the steel sector.
SAIL has already signed an MoU with Infrastructure Leasing & Financial Services Limited (IL&FS) for forming a special purpose vehicle (SPV) to develop, operate and maintain the SEZ.
Regarding the quantum of investment steel SEZ would attract, Mr Roongta said that such details had not yet been worked out. “It will take some to make an assessment for investment,” he said.
Source: Deccan Herald
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