RIL applies for de-notifying 40% of its Gujarat SEZ
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Reliance Industries (RIL) has applied for de-notification of over 40 per cent of its Special Economic Zone in Gujarat as it plans an investment of Rs 45,000 crore in that area to cater to the domestic market.
RIL's multi product SEZ is spread over 1,764.14 hectares. The company now wants partial de-notification of an area of 728.43 hectares, leaving 1,035.72 hectares of plan for the multi-product special economic zone.
"The developer has applied for partial de-notification so as to implement a number of new projects in the domestic tariff area (DTA) in Jamnagar near the SEZ. The proposed projects will mainly cater to the significant existing domestic demand," the Development Commissioner (DC) of the zone submitted to the Board of Approval for SEZs.
The DC has recommended that the de-notification be allowed subject to refund of all tax benefits the company had availed for operating units in the only-for-export zone.
An inter-ministerial Board of Approval, chaired by Commerce Secretary S R Rao will consider RIL's proposal on January 18, sources said.