Published on Thu, Oct 05, 2006 at 20:25 | Source : Moneycontrol.com
Updated at Fri, Oct 06, 2006 at 20:57
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Google, Dell, Motorola jump on to SEZ bandwagon!
Google, Dell, Motorola- these blue chips are the latest to jump on to the SEZ bandwagon. CNBC-TV18 has learnt that their investments could hinge on their being given the SEZ status.
And that's not all. Sources say that Singapore based, real estate giant, the Ascendas Group plans on setting up a 5000-acre multi product SEZ near Chennai with investments close to USD 1.5 billion. This would house only Japanese companies.
The group is expected to submit a formal proposal soon. Commerce Ministry officials also say that for the 110 approved IT SEZs in the country, 12 lakh jobs will be created. At the last meeting of the Group of Ministers on Special Economic Zones, the Finance Minister had expressed concerns on the number of IT SEZs coming up.
Chidambaram had said that the supply would exceed demand and that there weren't any global players coming in. But this could change the Finance Minister's argument.
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