Pradip Overseas (POL), an Ahmedabad-based home linen maker is considering to scrap its plans for the sector-specific special economic zone (SEZ) near Ahmedabad, as it received poor response from entrepreneurs and unfavorable tax conditions.
The change in the terms and condition specially imposing MAT in the SEZ units, the company’s textile SEZ remained the unviable option for the participating entrepreneur. Further, it didn’t receive any response from the textile entrepreneurs of the country for participation in the textile SEZ.
The company has filed a request for withdrawal of formal approval granted by the SEZ board of approval (BOA) in November 2008 and plans to develop an industrial park at the same location instead. The company has decided to develop an industrial park at the same location of the SEZ, which was coming up at village Bhamasra, taluka Bawla of Ahmedabad district, Gujarat.