In what may be seen as a blow to the Narendra Modi government in Gujarat, the Centre has withdrawn permission to the Adani group for a 1,840 hectare special economic zone in the state. The Adani group is perceived to be close to Mr. Modi.
In what may be seen as a blow to the Narendra Modi government in Gujarat, the Centre has withdrawn permission to the Adani group for a 1,840 hectare special economic zone in the state. The Adani group is perceived to be close to Mr. Modi.
According to sources, the permission was withdrawn because the land was not contiguous. The entire project is spread over 10,000 hectares and 6,500 hectares of this already has SEZ status. The issue raised by the government pertains only to the 1,840 hectares.
Sources say the company was expecting the development and has already reapplied for grant of SEZ status to this particular plot of land.
The note for the cancellation was signed by Commerce Minister Anand Sharma yesterday.
At 11.15 a.m., the Adani Ports & Special Economic Zone was trading 1.63 per cent lower at Rs 121.05 on the Bombay Stock Exchange. It was 2 per cent down on the NSE at Rs 121.
Sign Up with Google
RECOMMENDED FOR YOU
POPULAR
