Satyam seeks time for setting up SEZ
The Union Ministry of Commerce had already given two extensions and the validity of the last extension is up to June 19.
According to a senior official of the Andhra Pradesh government the latest request for extension has been forward to the Board of Approvals, SEZ under the ministry.
Mahindra Satyam was granted formal approval for setting up the SEZ over an area of 10.52 hectares in 2006 when B Ramalinga Raju and his team were managing the company.
"The company informed the BOA, the steps taken to implement the project and sought some more time as it could not complete the construction due to the unforeseen situation the company got into in January 2009," the official said.
The company also informed the BOA that it is on recovery path and is getting new customers and new business and hence is in a position to complete the project.
In another development the company`s request to denotify its SEZ for IT/ITES at Thotlakonda Hills, Visakhapatnam has been forwarded to BOA in a meeting held on May 31, the Andhra Pradesh government official said.
The company has requested for de-notification of the SEZ, which is spread in 20 hectares area stating that the state government has transferred the land to India Navy for establishment of a Wireless Experimental Unit, due to suitability for wireless operations.
Though the state had decided to allot 50 acres alternate land in favour of APIIC for onward allotment to Satyam for establishment of SEZ, the company is yet to be handed over the land.