Gitanjali Gems (GGL), an integrated diamond jewellery manufacturer will not go ahead with its plan to set up a SEZ in Nanded, Maharashtra, because of the project’s unviability. The promoters feel that proposed SEZ would be away from both the major domestic consumption centre and the sea and air ports and therefore will not be feasible.
Another three SEZ projects in Gujarat at Ahmedabad, Surat and Vadodara are also going slow while two projects at Nasik and Nagpur in Maharashtra have been put on the backburner.
However, GGL's SEZ at Panvel in Maharashtra is on track, with the company already acquiring 40 acre of land. The company will also be investing Rs 200 crore on Phase II of its Hyderabad SEZ which is likely to be completed by July 2010.
Source : projectstoday
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