Essar, Welspun may change SEZ plans

Essar Steel and Welspun Gujarat Stahl Rohren may change plans for their proposed SEZ ventures due to the plunge in the overseas steel market and subsequent growth in domestic demand.

While Essar Steel may scrap its proposed steel SEZ at Hazira, Welspun Gujarat is considering shifting its existing unit outside the Engineering SEZ at Anjar in Gujarat.

According to sources, Welspun which has invested about Rs 300 crore in its steel pipes manufacturing unit inside the SEZ is planning to shift this unit outside the SEZ, after paying all the import duties.

Welspun Gujarat had proposed to invest Rs 767 crore as a developer and Rs 458 crore for its unit. Essar has so far invested about Rs 8,000 crore in three manufacturing units and about Rs 200 crore of a proposed Rs 1,000 crore as a developer.


Source : ProjectsToday

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