Adani Ports and SEZ Ltd (APSEZL) on Wednesday said it has received environmental and coastal regulation zone (CRZ) nod from the Government of India, enabling it to set up SEZ-related infrastructure to facilitate Indian exports from Mundra SEZ, located next to the country’s biggest privately-run, multi-commodity commercial port.
The announcement reflected in the company’s share price on the bourses. On the BSE, the share price closed 6.82 per cent up at Rs 281.1.
APSEZL is India’s largest port developer and part of the Adani Group. The green signal came from the Union Ministry for Environment and Forests. “The grant of environmental clearance to Mundra SEZ by the MoEF will encourage investment in SEZ and the development is expected to be at a much faster pace as it provides seamless connectivity through sea, rail and road,” said Gautam Adani, Chairman, Adani Group.
APSEZ, which operates India’s only port-based SEZ, will now set up a mega desalination plant, an effluent treatment plant and intake of sea water, all of which constitute primary infrastructure to be provided for companies setting up business units in the SEZ. The Mundra SEZ is spread over 8,481 hectares and includes the Mundra port.
The SEZs are treated as deemed foreign territories from the perspective of several economic laws. Industrial units in the SEZ benefit from complete waiver on import duty, excise duty and service tax for capital goods or raw materials procured. These have been promoted for attracting FDI and to promote export-led growth.
The SEZ will host industries which will generate additional cargo volumes for Mundra Port. Mundra SEZ is the only such infrastructural place in India having connectivity, power, water supply and effluent treatment, a company statement said.
It includes the Mundra port that handled cargo volumes of 100 million tonnes last year.