SHWETA KAMAT
PANJIM: In a significant development, promoters of the special economic zones (SEZs) have approached the State government with a proposal to unlock 38 lakh sq mtrs of SEZ land, allotted to them over a decade ago. If the government agrees to this, it will have to shell out over Rs 200 crore to get back the land from the promoters.
Five of the seven SEZ promoters – K Raheja & Corporation, Peninsula Pharma Research Centre, Planetview Mercantile Co, Inox Mercantile Company and Paradigm Logistics & Distribution – that had approached the Supreme Court, have submitted their proposal to the government stating that they are ready to hand over the land, provided the government refunds the total amount paid by them to purchase the land along with interest.
The proposal came following directions from the Supreme Court, that in a recent order in February asked the government and the promoters to discuss and work out an amicable solution on the matter. The matter has been posted for the next hearing in May.
The promoters had approached the Apex Court after the High Court in its judgment in 2010 set aside the land allotments to all SEZ promoters declaring it as illegal. The Supreme Court later in 2011 directed the Centre, State and IDC to maintain status-quo on SEZ land allotment.
Sources at the secretariat confirmed that the government has received the proposal from the five SEZ promoters, wherein they have agreed to hand over the land to State provided the paid amount along with the interest is refunded to them.
“Total 38,40,886 sq mtrs of land was allotted for the SEZs by the Industrial Development Corporation (IDC) in 2008. The promoters had paid around Rs 108 crore at that time. With the interest, today the amount would be more than Rs 208 crore at least. If the government agrees, we will have to pay the amount and take the land,” sources said.
The government in the past had expressed the possibility of an amicable solution with the promoters with the proposal that 30 percent of the land locked in SEZs would be reserved for the promoters, while the balance would be utilised for industrial development.
When contacted, IDC managing director Narayan Gad admitted that the five promoters have approached the government, but refused to divulge any details.
He, however, said that if the government manages to unlock 38 lakh sq mtrs of land trapped in the SEZ, then land availability for industrial expansion will be taken care of for the next 15-20 years. “At present, we have no land left for industrial growth. The recent regulations will help us to some extent. But if we manage to get the SEZ land, than it will take care of industrial expansion for the next 15-20 years,” Gad said.
Following a public protest, the then Congress government had scrapped all SEZs and withdrawn the State SEZ policy in 2008. Three of the seven SEZs had already been notified by the Trade and Commerce Ministry.
