The Hindu

• 20 companies are keen to invest in their multi-product component
• New Mangalore Port Trust to be an equity holder
• Mangalore SEZ project contains a petrochemical and a multi-product component
• MRPL plans to invest over Rs. 35,000 crore in the petrochemical component

Mangalore, Jul 26: Nearly 20 companies are keen to invest in the multi-product component of Mangalore Special Economic Zone (SEZ) project, according to sources in the Kanara Chamber of Commerce and Industry (KCCI).

The Mangalore SEZ project contains a petrochemical component and a multi-product component.

According to sources, these companies want to invest in sectors such as manufacturing and services of industrial boilers, chemicals and other equipment; supply of oxygen, nitrogen, hydrogen and compressed air; information technology related sector; building solutions; gold jewellery, pharmaceutical industry, warehouse and consultancy.

Sources said that KCCI had learnt that the Union Ministry of Shipping has given "in principle'' approval to New Mangalore Port Trust (NMPT) to be an equity holder in Mangalore SEZ Company Limited formed on February 23, 2006 to implement the Mangalore SEZ Project.

Equity holders

The other equity holders are - KCCI, Karnataka Industrial Area Development Board (KIADB), Oil and Natural Gas Corporation Limited (ONGC), Infrastructure Leasing and Financial Services (IL&FS) Limited. ONGC through its subsidiary Mangalore Refinery and Petrochemicals Limited (MRPL) plans to invest over Rs. 35,000 crore in the petrochemical component of the Mangalore SEZ Project.

Meeting

The State Government recently held a meeting with the villagers of Bajpe, Permude and Kalavaru where the KIADB has proposed to acquire land for the Mangalore SEZ Project, to fix land value.

It was agreed in the meeting that the Government would pay Rs 8.50 lac per acre of agriculture land and Rs 8 lac per acre of dry land proposed to be acquired in those villages.