Adani Ports seeks fresh approval for denotified SEZ
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Adani Ports and Special Economic Zone (APSEZ) has sought a fresh approval from the central government for a 1,840-hectare multi-product SEZ, which was denotified in October due to non-conformity with SEZ rules.
"We have sought permission for a new SEZ and have made several representations to the government. We hope to get the approval in the present quarter," said APSEZ's Chief Financial Officer B Ravi.
Government sources, meanwhile, said the Board of Approval, the apex body for SEZs, has not yet taken up the matter.
In October, the government had cancelled the SEZ being developed by the Adani Group at Mundra on grounds of violation of various norms. This included the SEZ not conforming to contiguity norms and being in violation of the rule which requires the tax-free zone site to be vacant before approval is sought. Under the contiguity norms, a developer is required to develop the zone on a single tract of land. Besides, the land should be vacant.
Ravi said the issue of conforming to the contiguity norms has now been resolved. "There is no issue now. We have made several representations to the government to clear our position," he said, adding that de-notification of the SEZ did not affect Adani Port's existing businesses.
The SEZ, which is adjacent to existing tax-free zone of the company at the same place, was notified in March last year and denotified in October.