You are here: Home » Companies » News
Business Standard

Tata Steel to ink Rs 5-billion pacts for Gopalpur SEZ over 2 months

Definitive pacts with four investors will be signed shortly and construction on their units will take off by January 2019

Jayajit Dash  |  Bhubaneswar 

investment rules, fpi norm, kyc norm
Illustration by Binay Sinha

Tata Steel Ltd (TSSEZ) aims to execute definitive agreements with four within two months for its multi-product at in southern The are valued at Rs 5 billion. These will flow from domestic in chemicals, food processing and apparel.

The industrial park, sprawled over around 3,000 acres, is made up of two components -- a (SEZ) notified for 1,235 acres and the rest being Domestic Tariff Area (DTA). The will install their units within the DTA where is the anchor investor and is providing plug and play

Arun Misra, chairman of TSSEZ, said, "We have obtained the environment clearance. The state Cabinet has approved the registration and transfer is expected soon. We have got approval from the company board to spend on developing external at the In a month or two, we should be able to announce two to three good "

Development of the would occur in a staggered manner.

In each phase, 1,000 acres is set to be developed.

"Development of the park will take place in the next five to six years. Parallelly, our focus also lies in roping in investors," said Ashish Mathur, managing director at

Mathur exuded confidence that the definitive pacts with the four would be signed shortly and construction on their units would take off by January 2019.

"By April 2020, we would have three to four units actually running from the park. The units will occupy 100 acres of and their combined could reach around Rs 5 billion. Together, the investments will generate employment for not less than 1,000 people," he added.

Aside from the four domestic investors queued up, has received queries from 70 -- both domestic and foreign.

However, the worrying factor for TSSEZ is the subdued investor interest for the SEZ. "Manufacturing SEZs are struggling everywhere to attract investments. The government has formed a committee to deliberate on ways to make SEZs more attractive," Mathur said.

First Published: Wed, October 03 2018. 22:33 IST
RECOMMENDED FOR YOU