SEZ developers exiting: Mah Govt

Industries Minister Subhash Desai said developers of 69 of the 139 SEZs, which were notified, granted final or in-principle approvals, have chosen to de-notify or exit them. This is because of the Centre´s changed policies regarding SEZs or the economic slowdown at the international level, he added. Of the 69 cancelled projects,19 were notified as SEZs by the Centre covering 2,971.25 hectares of land. The state government, through a government resolution issued in October 2011, had given various sops to the developers and constituents of these projects, namely, stamp duty exemptions and time-bound VAT refunds and holidays from royalties towards minor minerals.