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Govt okays Adani Power's Rs 14,000-crore SEZ project in Jharkhand

Adani Power has already signed a power purchase agreement for the supply of 100% power generated from this plant to Bangladesh

Press Trust of India  |  New Delhi 

Representative image
Representative image

The government has approved a Rs 14,000-crore special economic zone (SEZ) project of Power in Jharkhand, which will export entire power generated to Bangladesh, an said.

The project was approved by highest decision-making body on SEZ - - chaired by the commerce secretary, in its meeting on February 25, the government said.

Power (Jharkhand) Ltd has sought for setting up of sector specific SEZ for power at villages - Motia, Mali, Gaighat and adjacent villages in district, over an area of 425 hectares.

It has received formal for the land in possession of 222.68-hectare area and in principle approval for remaining 202.32 hectares.

Two supercritical units of 800 MW each would be set up with an investment of Rs 14,000 crore which would include setting up of a water pipeline and power evacuation system.

It will be ready by the end of 2022. The company has already signed a power purchase agreement for the supply of 100 per cent power generated from this plant to

The SEZs are major export hubs in the country as the government provides several incentives including tax benefits and single window clearance system.

The developers and units of these zones enjoy certain fiscal and non-fiscal incentives such as no licence requirement for import, full freedom for subcontracting, and no routine examination by customs authorities of export/import cargo. They also enjoy direct and indirect tax benefits.

Exports from special economic zones grew by about 15 per cent to Rs 5.52 lakh crore in 2017-18.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

First Published: Sun, March 03 2019. 10:35 IST