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KOLKATA, June 14

THE Union Commerce Ministry has given in-principle nod to accord special economic zone status to `Manikanchan,' the eastern region's first gems and jewellery park.

The West Bengal Industrial Development Corporation, which is implementing the project with its partner I-WIN, said in a release that the park's aim was to extend support to the industry (especially the exporters) by minimising document processing and providing a duty-free enclave. I-WIN is the joint venture of WBIDC, the State agency for promoting large and medium industry, and ICICI.

Larsen & Toubro, which has won the contract to build the project is slated to complete the first phase by April 2003. The three-phase project will have standard design factories, common facility buildings, banks and other social infrastructure.

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