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Our Bureau

Mangalore, July 17

The Mangalore Special Economic Zone (MSEZ) Ltd — which recently got the final approval by the Board of Approvals (BoA) for the sector-specific SEZ — is planning to approach the BoA by November or December for multi-product zone status after completing the process of acquisition of 4,000-odd acres of land.

Mr I.S.N. Prasad, Managing Director and Chief Executive Officer, MSEZ Ltd, told members of Kanara Chamber of Commerce and Industry (KCCI) here on Monday that the BoA has given its formal approval for a petro-chemical SEZ in Mangalore.

Currently, 1,721 acres have already been acquired for the project. It also plans to acquire 2,000 more acres for the SEZ project and they are under various stages of acquisition process. “The BoA will be approached by November or December for multi-product status, after acquiring the remaining 2,000 acres of land,” Mr Prasad said.

The intent of having a multi-product zone is to provide more employment opportunities for local people.

More Stories on : Infrastructure | Karnataka

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