Tata Steel Special Economic Zone (TSSEZ) is planning to ink definitive agreements with four investors over the next two months for its multi-product industrial park at Gopalpur, in southern Odisha. The investments are worth Rs 5 billion. Spread across an area of 3,000 acre, the industrial park will reportedly consist of two companies – an SEZ covering 1,235 acre and the rest being a Domestic Tariff Area (DTA).
The investors are expected to put up their units within the DTA where TSSEZ is the primary investor, and is providing plug and play infrastructure. The industrial park will be developed in stages, with 1,000 acre being built in each phase.
TSSEZ has already got the green nod. According to reports, land registration approval has already come from the state cabinet and the land is expected to be handed over soon. The company board has reportedly given its approval to spend on developing external infrastructure at the industrial park. TSSEZ is expecting to announce feasible investments in the coming one or two months.
The park will be developed in the next five to six years. But additionally, TSSEZ is also reportedly focussing on getting financiers. The pacts with the four investors are to be signed soon and as reported, construction on these units is to begin by January 2019.
There will be three to four units ready for operations by 2020. The units will cover an area of 100 acre, and their total investment can touch the Rs 5-billion mark. Together, the investments are expected to provide jobs to at least 1,000 people.
TSSEZ has reportedly received queries from 70 more companies – both foreign and domestic – in addition to these four investors. But bleak investor interest remains a cause of concern for the SEZ. SEZs are toiling to attract capital. As reported, the government has constituted a committee to premeditate plans to make SEZs more lucrative.