SEZ BOARD FIXES MINIMUM INVESTMENT NORMS FOR DEVELOPERS
Board of Approval for SEZs has set forth list of authorized operations for building social infrastructure within the various SEZs and criteria for developers to qualify for tax breaks. The board has given in-principle nod of 14 SEZs, taking the total number of SEZs approved so far to 164. Out of this, 25 SEZs have been notified. Minimum investment or net worth of the promoter company in the SEZs prescribed is as follows:
- Sector-specific SEZ developers must plough in a minimum investment of Rs.250 Crore or have net worth of Rs. 50 Crore.
- For multi-product SEZs, minimum investment is Rs. 1,000 Crore and net worth Rs. 250 Crore is required.