State all set to announce final approval for Navi Mumbai SEZ

The state government is all set to announce its final approval for Navi Mumbai Special Economic Zone (SEZ) in the second week of coming July. When government officially announced approval for this project after that four years been passed but still it is pending and failed to meet the norms of the SEZ policy. Commerce secretary Rahul Khullar will spearhead the meeting of the commerce ministry’s Board of Approval (BoA) and may be green signal given in the forthcoming conclave. The meeting is likely to be held on 15th July with the object to discuss the final approval for SEZ in Navi Mumbai, senior officials said.
The panel is having representatives from the Commerce Department, Department of Revenue, Department of Economic Affairs, Central Board of Excise and Customs (CBEC) and Central Board of Direct Taxes (CBDT).
In the previous week squad has visited to the site for full and final observation.
Navi Mumbai SEZ (NMSEZ) Pvt Ltd, promoted by Mukesh Ambani Ambani and his associate Anand Jain, had anticipated splitting the 1,233-hectare multi-product SEZ into five different SEZs after that it unable to comply with the contiguity rules.
On the basis of anonymity senior officer said that “the approximate cost of this project is Rs. 100-150crore, at the starting point of this project when we have planned it with flyovers and underpasses it would cost Rs.400crore”, he added that even after the final approval for this project company will take one year to begin construction works.