Mangalore SEZ Ltd will complete its dedicated pipeline-cum-road corridor project to New Mangalore Port by March 2013.
Mr Rajiv Banga, Managing Director and Chief Executive Officer of Mangalore SEZ Ltd, said this while speaking on the topic ‘SEZ opportunities for petrochemicals in Karnataka' at Global Investors' Meet in Bangalore recently.
He said that Mangalore SEZ is setting up a direct pipeline-cum-road corridor, nearly10-km-long, connecting the SEZ units to the New Mangalore Port.
water infrastructure
This is, in addition to creation of water infrastructure by setting up two barrages on the Nethravathi and the Gurupur rivers adjoining Mangalore.
The dedicated corridor would save cost and time for the petrochemical units.
He said that phase I of the corridor development is expected to be completed by March 2013. Mr Ramachandra Bhandarkar, Public Relations Officer of Mangalore SEZ Ltd, told Business Line that dedicated corridor, along with other infrastructure such as power and water, is essential for the commissioning of units in the SEZ
Mr Bnaga said that Mangalore SEZ is the only notified sector-specific petrochemical SEZ in Karnataka.
A press statement quoting Mr Banga said here that the Mangalore SEZ would lead to rapid economic development of the region through a cluster-based approach for petrochemical sector.
cost-competitiveness
“This sector could be best developed as a cluster for achieving cost competitiveness at a global scale through functional and locational synergies enhanced by proximity to port, proximity to feedstock, and benefits of common shared infrastructure.
“Mangalore SEZ Ltd is modelled as a cluster providing all the above benefits,” he said.
Proximity to various feedstock options meant a cost advantage of at least 6-7 per cent, which, in the long term, could provide a huge head-start for a potential investor in the Mangalore SEZ, he said.
The promoters of Mangalore SEZ Ltd are Oil and Natural Gas Corporation, Karnataka Industrial Areas Development Board, IL&FS, and Kanara Chamber of Commerce and Industry.