The Goa Government today said it will not compensate the developers of special economic zone (SEZ) in the state except refunding their money, which they had invested in the land.

"Out of three SEZs only one has done some work. We will give back all the developers only the money which they had invested in buying the land as we are taking the land back from them," Chief Minister Digamber Kamat told reporters here.

Click here for Cloud Computing

Also Read   Related Stories News Now - Govt allows firms to share space in IT SEZs - UPDATE: SC dismisses Ambani-promoted SEZ plea - DLF to go ahead with four IT project sans SEZ status - Four DLF SEZs denotified - Annual remittances in Goa amount to Rs 700-cr: Study - Govt clears nine SEZs; most belong to IT/ITES

Also Read   Related Stories News Now - Markets glued to gains - Nissan to use new capacity for exports in near term - Wheat output for 2011-12 to top govt forecast: Pawar - Sensex ends up 138 pts - Greece closes in on bailout, Germany seeks oversight More

The state government on Thursday received a set back when the Union Commerce Ministry's Board of Approval extended time limit for one of the developers to complete his project. The BoA's decision came in stark contradiction to the state government's stand that they do not want any SEZs in the state.

Kamat said that he would soon meet Union Commerce Minister Anand Sharma and brief him on the issue.

Former Union Commerce minister Kamal Nath had assured that the SEZs would not be thrust on Goan people. Even UPA chairperson Sonia Gandhi had assured that if people do not want, there should not be any SEZ in Goa, Kamat said.

The chief minister said that the SEZ developers during one of heir meetings in past had conceded that they cannot start functioning without the support of state government.

The state government's stand is very clear that we don't want SEZs, he said.        

Meanwhile, Goa's Rajya Sabha member Shantaram Naik has said that newly appointed commerce minister Anand Sharma has given positive signals to him in the matter of denotifying three SEZs.

In Delhi, Naik told Sharma that three units would have, by now, been denotified but were held due to general elections.

Naik said that Sharma has advised him to ask Digamber Kamat to send a fresh letter addressed to him giving details of the demand of the state government.

Sharma reportedly gave sufficient indications to Naik that he will do the needful in the matter in accordance with the wishes of the people.

New Ipad Application :Business Standard's all new IPad App Click here to download for free Other Stories      - Markets glued to gains - Nissan to use new capacity for exports in near term - Wheat output for 2011-12 to top govt forecast: Pawar - Sensex ends up 138 pts - Greece closes in on bailout, Germany seeks oversight

Tags : Goa | SEZ | Economic development | Digamber Kamat | Commerce Ministry   Read Business news in  Advertisements -  Now property search gets more exciting than ever before! -  High Growth Business Opportunities in Africa - Register to explore -  Medium-sized businesses are the engines of a smarter planet. -  Office 365 for professionals and small businesses. -  Earn fuel worth Rs.2400 with Citi -  India's No. 1 Property Site. Click here to know more.. -  Diseases earlier, Saving Costs, Extending Lives. Know More.. -  Get 5% cashback on telephone bills with Citi -  Enjoy the journey as much as the destination. click to know more.. -  Exim Bank Conclave on India - Africa Project Partnership. Know more.. -  Creating Wealth made simple the SIP way. Know more.. -  Only Developer to give a guarantee on time space & rate. -  Buy Your Property with Our Triple Guarantee in India. -  Improve Patient Care & Experience. Click here to know more -  Win a Business Class Ticket to Europe..Know more.. -   Introduce a New Automotive Luxury Car.. know more