Five SEZ proposals cleared including that of Oracle L&T

The government’s Board of Approval (BoA) has approved five proposals for setting up IT special economic zones (SEZs). These include proposals from Oracle India and L&T Construction Equipment. Reportedly, L&T Construction Equipment has planned two IT and ITeS zone in Karnataka, while Oracle India has proposed to set a similar zone in the state. Also, Modern Asset and Modern Asset (Phase-II) has received approval for their IT zone in Karnataka as well. Further, the BoA has given more time to about 10 SEZ developers and units to implement their projects. Developer of multi-product SEZ at Kandla in Gujarat, The Kandla Port Trust has received one-year extra window to execute its project. Others including Golden Tower Infratech, Brookefield Real Estate and Projects and SEZ Biotec Services have got additional time. So far, out of the nearly 500 proposals for SEZs formally approved by the government, over 200 are operational.