30 March 2007 10:54 [Source: ICIS news]
The Marxist-controlled eastern Indian state has agreed to relocate the SEZ, after opposition from local villagers ended in clashes with police leading to 14 deaths last week.
The spokesman said the petrochemicals park would be relocated somewhere in
Land around the
Farmers complained compensation was not enough and was tantamount to expropriation of agricultural land.
The zones were set up in 2005 to offer generous tax subsidies to woo foreign investors and spur economic growth as part of a drive by
Despite opposition, the government has pledged not to reverse the SEZ policy and has even rolled out a new scheme that would create even larger zones known as PCPIRs -- petroleum, chemicals and petrochemicals investment regions.
Five zones have been earmarked, which will cover 25,000 hectares (61,775 acres) and would sweep up existing SEZs.
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