The Union Shipping Ministry has given `in-principle approval for New Mangalore Port Trusts (NMPT) participation as an equity partner in the special purpose vehicle (SPV) formed for the implementation of SEZ project in Mangalore. The SPV- Mangalore SEZ Company Ltd - was formed on 23 February 2006.
At present, the Karnataka Industrial Areas Development Board (KIADB), Oil and Natural Gas Corporation Ltd, Infrastructure Leasing and Financial Services (IL&FS) Ltd and the Kanara Chamber of Commerce and Industry (KCCI) are the stakeholders in the Mangalore SEZ Company Ltd.
Mangalore SEZ is a mega project with two components - petrochemical and multi-product. ONGC, through its subsidiary Mangalore Refinery and Petrochemicals Ltd, is planning to invest more than Rs 35,000 crore in the petrochemical component of the SEZ.
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| Posted : 7/22/2006 |
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