Adani Ports and Special Economic Zone (APSEZ), India’s largest port developer and part of the Adani Group, said that it had received the environment and coastal regulation zone clearance from the Union Ministry for Environment and Forests, for its 8,481 hectares special economic zone in Mundra.
The clearance will now allow APSEZ, which operates India’s only port-based SEZ, to set up a mega desalination plant, an effluent treatment plant and intake of sea water, all of which constitute primary infrastructure to be provided for companies setting up business units in the special economic zone.
The Special Economic Zones are locations carved out from within the country, which are treated as deemed foreign territories from perspective of several economic laws.
Industrial units in the SEZ benefit from complete waiver on import duty / excise duty / service tax for capital goods or raw materials procured. Special Economic Zones have been promoted from the point of view of attracting FDI as well as to promote export led growth.
“The grant of the environmental clearance to Mundra SEZ by MoEF will encourage investment in SEZ and the development is expected to be at a much faster pace as it provides seamless connectivity through sea, rail and road,” said Gautam Adani, Chairman, Adani Group.
The SEZ will host industries which will generate additional cargo volumes for the Mundra Port.
As explained by the developers, the Mundra SEZ is the only such “infrastructural marvel which has everything in place – be it connectivity, power, water supply and effluent treatment. It includes the Mundra port, which is India’s No. 1 commercial port, handling cargo volumes of 100 million tonnes.”
Press Release; July 17th, 2014