Oracle, L&T SEZ proposals cleared by govt

The Board of Approval (BoA), chaired by Commerce Secretary Rita Teaotia, has approved five proposals, including those of Oracle India and L&T Construction Equipment, for setting up IT special economic zones (SEZs).

While L&T Construction Equipment has planned two zones in Karnataka, Oracle India has proposed to set up IT and ITeS zone in the state.

Modern Asset and Modern Asset (Phase II) has been given nod for its IT zone in Karnataka. Also, as many as 10 SEZ developers and units have been given time to implement their projects.

Those who have got time extension include The Kandla Port Trust, developer of multi-product SEZ at Kandla, in Gujarat, Golden Tower Infratech, Brookefield Real Estate and Projects and SEZ Biotec Services.

Image Credit : livemint.com

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