Posts Tagged ‘SEZ’
444 Mous pledged worth Rs 7,48,970 crore on power, economic zones, tourism, water management among others on Day 1!
444 Mous pledged worth Rs 7,48,970 crore on power, economic zones, tourism, water management among others.
Leaders in Vibrant Gujarat Summit together, they represent 91 listed companies and a market cap of Rs 7.85 lakh crore
Industry captains on Modi and Gujarat
KV Kamath, former chairman, ICICI & CII president: “Growth is not an accident. It is made to happen. The chief minister has made it happen.”
IT companies line up at Raheja, DLF SEZs in Gujarat
Gujarat may have missed the IT/ITES bus earlier, but the two upcoming IT/ITES SEZs by K Raheja Corp and DLF are all set to drive the growth of the industry here. As many as 50 companies are likely to set up shops in the two parks coming up in Gandhinagar.
“Leading IT players like IBM, Oracle, Syntel, Accenture, Patni Computers and CSC are exploring the state for setting up their operations in the SEZ area, according to sources in state government. We are aiming to draw companies like GE, IBM, Cognizant, Genpact, Mphasis and Symantec who have been our clients,” said an official of DLF on conditions of annonymity.
Apart from software companies, financial institutions and banks like HSBC, Morgan Stanley, JP Morgan Chase, Citibank, Otis, Meryll Lynch, Deutsche Bank, HCFC, Countrywide, many of which are clients of K Raheja Corp, are also looking at the state for setting up their operations, said sources close to the development. K Raheja Corp’s Mindspace IT SEZ is coming up in a sprawling space of over 97 acres at Koba near Gandhinagar for an estimated investment of Rs 1200-1500 crore. The phase one of the project will be completed early next year and space will be available for possession from January onwards.
“The real estate prices in Ahmedabad are very attractive as compared to other IT destinations in the country. Besides, DLF and Raheja have been allotted land by the state government at very nominal prices so they can lease it out at a much more competitive price. This will also give a huge boost to the export rate of the state, which has been growing at over 50 per cent CAGR for the past three to four years,” said government sources.
An official of Raheja said they have been in talks with various companies however he refused to divulge names. DLF is setting up Rs 850-crore SEZ in Gujarat which will come up over 25 acres at Gandhinagar near Infocity. “A few multinationals are evaluating the state and conducting studies. However, it will take about 6-8 months before they can make a decision to move in,” said Amit Grover VP- Corporate Marketing. DLF will also offer space of even 5,000 sq ft for lease to accomodate local players including even entrepreneurs, he added.
Although there are close to a dozen IT SEZs coming up in Gujarat, Raheja would be the first to commence operations commercially followed by DLF looking at the work done currently, government sources added.
Gujarat to house animation SEZ
Gujarat may be the next destination for the country’s animation industry, which is expected to touch Rs4,200 crore by fiscal
2009. Targeting the sunrise industry, an unnamed developer has proposed an IT SEZ in Umargaon in south Gujarat, according
to state officials. Overseas entertainment giants including Walt Disney, Imax and Sony are expected to outsource cartoon characters and special effects to Gujarat once the SEZ is completed. Confirming the development, Gujrat’s IT secretary, Rajkumar Gupta, said
Umargaon near Valsad would perhaps be India’s first SEZ to target the animation industry. However, he declined to disclose the name of developer. According to a senior official in Industries Commissionerate,the government is considering the proposal and is likely to send it to the Centre for approval soon. Ramaprasad S, the executive director of Toonz Animation,which made Return of Hanuman and Tenali Rama, said, the move acknowledges the fact that India’s animation industry is receiving worldwide recognition.
Meanwhile, Mumbai-based Hiranandani Construction, emulating nationallevel realtors such as DLF and Raheja, is also setting up IT SEZ in Ahmedabad.Under the name of Myron Realtors Pvt. Ltd, the group has bought 27 acres of land on Sardar Patel Ring Road in
Ahmedabad’s Sanand taluka. The SEZ will house IT/ITeS units. This would boost the growth of IT industry in Gujarat, Gupta said.
Officials said the state government has cleared the proposal and sent it to the apex body for SEZs, the Board of Approval, for consideration. The two new special zones would take the total number of IT/ITES SEZs in the state to 16.
Gujarat allots 26 acre for Satyam’s SEZ
Govt allots 26 acre land for Satyam’s SEZ
Satyam Computers Services Ltd, one of the software giants in the country, has been allotted over 26 acres of government land for setting up special economic zone (SEZ) dedicated to information technology (IT) sector.
The captive special zone would come up in the state’s capital Gandhinagar near Infocity. “On July 16, the company’s officials formally received possession of the land from the district collector,” said a senior Gujarat government official on the condition of anonymity.
Satyam is the country’s second IT consultancy firm to plan a SEZ in the state after Tata Consultancy Services (TCS). The TCS has already been approved over 10 acres of land in Gandhinagar.
Confirming the latest development, Capt H R Prasad, global head, corporate services, Satyam Computer Services Ltd, said Satyam was in the process of planning the campus in Gandhinagar. The company would now soon initiate the process of obtaining the formal nod from the board of approval and notification from the Centre.”
According to government sources, the process of notification should not take very long, given the fact that the special economic region is to come up on a government land.
The company, listed on BSE as well as New York Stock Exchange, was expected to set up a software development centre in its captive SEZ, said a government official.
The Secunderabad-based company’s officials, however, expressed inability to provide investment and employment figures for the project, saying that it was still in the early stages of planning.
This would be the 11th IT sector-specific SEZ in the state when approved. So far two IT-dedicated special zoneshave been notified: one is Ahmedabad and the other in Gandhinagar.
Interestingly, all the IT SEZs in the state, except one by Nipiam Infotech in Vadodara, are housed in the twin cities of Ahmedabad and Gandhinagar. While Ahmedabad has 4 of them in different stages of approval, Gandhinagar accounts for the rest.
Apart from Satyam, TCS’s IT SEZ in Gandhinagar, which has been formally approved by the Centre, is awaiting notification. In addition, some of the national-level realtors, like DLF and Raheja, have also got IT special zones approved in Gandhinagar.
Satyam Computers’s first quarter profit went up 45% on the back of rupee weakness. The company posted net profit of Rs 548 crore against Rs 378 crore a year ago. Its revenue rose to Rs 2,621 crore from Rs 1,830 crore last year.
source: sify.com