14 March 2007

Special Economic Zones (SEZ)

Taiwanese footwear company Lotus Footwear Enterprises is expressing concern over the current freeze from Delhi Central Government on economic approvals and notifications. Tamil Nadu State Government has written to the Prime Minister's Office and Commerce Department, pointing out that a further delay in a decision on SEZs (special economic zones) would result in the flight of proposed internal investments to other countries.

Taiwan-based Feng Tay Enterprises, whose group company Lotus Footwear Enterprises received a formal clearance for setting up a 275-acre footwear SEZ in Tiruvannamalai District, has written to the Commerce Department pointing out that there is an urgent need for production to start as they are under contractual obligation with worldwide buyers.

The Company has plans of investing over Rs.300 crore and generating employment for 2,000 people. Since the Company is already in possession of land, it has ordered machinery. For a previous posting on this check out:

No comments: