Tuesday, 8 April 2014

10 most wanted fact about Vedanta SEZ in Jharsuguda

1-Vedanta Aluminium Limited (VAL)  set up a 1.25 million tonne per annum (mtpa) aluminium smelter complex in Jharsuguda district of Odisha for production and export purpose.

2-Plant has been lying idle want of power. Though Vedanta's sister concern Sterlite Energy has a power plant in Jharsuguda but state authority did not given approval to use electricity from that plant.

3-The company has already invested Rs 12,000 crore on the smelter complex.

4-Recently Development commissioner approached board of approval to provide one year extension to the SEZ.

5- Vedanta's multi-product SEZ at Jharsuguda has been delayed considerably due to want of state specific SEZ policy.

6- Due to lack of the policy, various government departments were unable to extend the SEZ benefits.

7-The validity of approval for VAL's sector specific SEZ at Bhurkamunda near Jharsuguda meant for manufacture and export of aluminium, will expire on May 22.

7- The commissioning of the SEZ facility promised to boost the local economy by generating business potential worth Rs 15,000 crore every year. Direct and indirect employment opportunities for nearly 12,000 persons are set to be created.

9- The SEZ developer has been granted four extensions since its first approval on May 23, 2007.

10-The matter is pending with the Board of Approvals under Union ministry of commerce & industry.

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