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A proposal for setting up of a free trade and warehousing zone by NDR Infrastructure with over Rs 292 crore investment in Tamil Nadu will be considered by the highest decision-making body on SEZs on April 22, an official 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 Tamil Nadu 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 duty-free building materials 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.
The total proposed investment in this project is Rs 199.54 crore.
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