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BoA on special economic zones to consider FTWZ proposal on Apr 22

Press Trust of India  |  New Delhi 

A proposal for setting up of a free trade and warehousing zone by with over Rs 292 crore investment in will be considered by the highest decision-making body on SEZs on April 22, an said.

Inter-ministerial body Board of (BoA), chaired by Anup Wadhawan, will take up this proposal for consideration in its meeting on April 22, the said.

A free trade and warehousing zone (FTWZ) is a special category of special economic zones (SEZs) with focus on trading and warehousing activities.

The developer, NDR Infrastructure, has submitted its application before the BoA for setting of the zone in Tiruvallur district of over an area of about 100 acre.

According to the foreign trade policy, proposals for setting up of FTWZs are considered by the BoA.

On approval, the developer will be issued a letter of permission for the development, operation and maintenance of the zone.

The developer is permitted to import and equipment for the development and infrastructure of the zone.

Developer of FTWZs are allowed to sale, lease and rent out warehouses, workshops, office-space and other facilities to traders and exporters.

Units in these zones enjoy certain tax exemptions including service tax.

Further, the BoA would also consider a proposal of to set up (IT) or IT-enabled services zone in

The total proposed investment in this project is Rs 199.54 crore.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Tue, April 16 2019. 15:25 IST