Ranchi, March 4: Now energy to Bangladesh will be exported soon as an Rs 14,000-crore special economic zone (SEZ) project of Adani Power in Jharkhand has been approved. The project was approved by highest decision-making body on SEZ - Board of Approval - chaired by the commerce secretary, in its meeting on February 25, the government official said.
Adani Power (Jharkhand) Ltd has sought approval for setting up of sector specific SEZ for power at villages - Motia, Mali, Gaighat and adjacent villages in Godda district, Jharkhand over an area of 425 hectare.
It has received formal approval for the land in possession of 222.68 hectare area and in principle approval for remaining 202.32 hectare. “This power plant will generate 10,000 jobs and the state will get an investment of Rs 1,500 crore. The process of acquiring the rest of the land will be completed soon,” said the Chief Secretary.
The SEZs are major export hubs in the country as the government provides several incentives including tax benefits and single window clearance system.
The developers and units of these zones enjoy certain fiscal and non-fiscal incentives such as no licence requirement for import, full freedom for subcontracting, and no routine examination by customs authorities of export/import cargo. They also enjoy direct and indirect tax benefits.
Exports from special economic zones grew by about 15 per cent to Rs 5.52 lakh crore in 2017-18.