Centre clears SEZ proposals
Given the advantages these parks bring to the IT sector, many companies across the country are looking to tap into SEZs.
Hyderabad, March 21
With the Union Ministry of Commerce clearing proposals for special economic zones (SEZs) late last week, Satyam Computer Services Ltd (with three IT SEZs), Computer Associates India, K. Raheja Park (two parks) and Wipro Technologies are among those to set up parks in the State.
This will be supplemented by other parks of AP Techno Projects, a 550-acre SEZ to be developed by Andhra Pradesh Industrial Infrastructure Corporation (APIIC), which will be useful to allot to IT SEZs, and another park at Poppalaguda, near Hyderabad.
Following the approval of these proposals by the Centre last week, and given the advantages these parks bring to the IT sector, many companies across the country are looking to tap into SEZs. With the tax sops for Software Technology Parks of India valid up to 2009, many IT companies, both domestic and multi-nationals, with operations in India, are now looking at the SEZ option. According to the State Secretary, Information Technology and Communication, Mrs Ratna Prabha, based on the recommendations of the State Government, the Commerce Ministry had cleared about 10 proposals recently; initially, four proposals in two rounds were cleared.
In all, about 14 SEZs would get underway shortly. Some of these project-specific SEZs will be developed in association with APIIC.
Three proposals of Satyam Computer received the nod. While one will be located near the existing technology centre near Bahadurpally, another park will come up at Serilignampally, both near Hyderabad, and the third one at Visakhapatnam.
Of the 40 proposals approved by the Centre, 10 are to be based in the State.
It is estimated by the State that these proposals have the potential to create about 3.42 lakh jobs, when all of these projects create about 135 lakh sq. ft. of build-up space. These are based on the SEZ Rules issued on February 10.