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Our Bureau

Most companies yet to divulge volume of investments planned

Mangalore , April 11

As many as 18 companies from the manufacturing and service sectors have shown interest to invest in the general-purpose multi-product component of the proposed Mangalore Special Economic Zone (SEZ).

Sources in the Kanara Chamber of Commerce and Industry (KCCI) told Business Line here that companies from pharmaceutical, textile and construction industries in the manufacturing sector and from the hospitality and IT/ BPO industries in the service sector have approached the chamber for investing in the general-purpose multi-product component of SEZ.

Most of the companies are yet to divulge the volume of investments. However, a private sector shipbuilding company wants to invest around Rs 100 crore, they said.

More than 400 acres of the land will be available for the development of general-purpose multi-product component in SEZ.

KCCI is one of the stakeholders in the Mangalore Special Economic Zone (SEZ) Ltd — a company formed for the implementation of the SEZ.

The Karnataka Industrial Areas Development Board, Oil and Natural Gas Corporation (ONGC) Ltd, and Infrastructure Leasing and Financial Services (IL&FS) Ltd are the other stakeholders in the company. KCCI and IL&FS Ltd — who together hold 51per cent equity in Mangalore SEZ Ltd — have the task of identifying investors for multi-product component in Mangalore SEZ.

Sources expressed confidence that the multi-product component of Mangalore SEZ would attract many more investors in the days to come.

It may be mentioned here that ONGC Ltd, through its subsidiary Mangalore Refinery and Petrochemicals Ltd, is planning to invest around Rs 50,000 crore in the petrochemicals component of Mangalore SEZ.

More Stories on : Infrastructure | Karnataka

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