Reliance Industries Friday won central government approval to de-notify over 40 per cent of its Special Economic Zone (SEZ) in Jamnagar as it plans Rs 45,000-crore projects in that area to cater to the domestic market.
An official said RIL’s proposal was approved at the meeting of Board of Approvals SEZ, headed by Commerce Secretary S R Rao, subject to the company obtaining a no-objection certificate from the state government for the denotification.
“The BoA today approved the proposal but they have to take an NoC from the state government and the company also have to refund the tax benefits it may have availed for operating units in the only-for-export zone,” he said.
RIL’s multi-product SEZ is spread over 1,764.14 hectares. The company wants partial de-notification of an area of 728.43 hectares. The developer had applied for partial de-notification so as to implement a number of new projects in the domestic tariff area in Jamnagar near the SEZ.
The SEZ houses 580,000 barrels per day or 29 million tonnes a year oil refinery that exports fuel. An adjacent 33 million tonnes older unit caters to the domestic market.