Mumbai: After the Navi Mumbai Special Economic Zone (SEZ) has faced certain operational and regulatory issues in the state, the commerce ministry has given more time to Navi Mumbai SEZ, which has planned eight projects in Maharashtra.
The BoA, highest decision-making body on SEZ related issues, in its meeting on September 18 “approved extension” of validity of formal approval for setting up eight SEZs by NMSEZ for further period of “three months,” according to the minutes of the meeting of BoA.
The Maharashtra government had sought more time from the Board of Approval (BoA), headed by Commerce Secretary Rita Teaotia, to resolve all the issues faced by Navi Mumbai SEZ Ltd (NMSEZ).
Development Commissioner of Navi Mumbai SEZ had stated that the state government, City and Industrial Development Corporation (CIDCO) and NMSEZ are in the process of resolving operational and regulatory issues.
As the issue has been pending since 2015, the board had decided to give the Maharashtra government time till August 30 to resolve the issues with the developer.