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Jamnagar News

Monday, October 13, 2008

Essar Reducing SEZ Size to One-Fifth

In a setback news for Jamnagar industries, Essar Oil Ltd, a $50 billion Essar Group company is asking for Centre's approval to reduce the size of its Jamnagar special economic zone (SEZ) to around 200 hectare (less than one-fifth) from 1,125 hectare.

Also the company also wants to reclassify the proposed project as petrochemical SEZ Only. Reason being that the company has been facing problem in land acquisition and finance.

Although the company officials neither approved nor denied the matter, they do reconfirmed that capacity of their exiting 10.5 MTPA refinery will be expanded to around 34-35 MTPA.

Officials said ditto for the 1,200 mw captive power plant (under construction at Vadinar)

Essar's next Jamnagar venture, 1,200 mw imported coal-based power plant at Salaya had cleared all documentation hurdles, this project is under MOU with Gujarat Urja Vikas Nigam Ltd for supply of 1,000 mw on long-term basis, this plant's construction and maint. is executed by a Chinese company.

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