Gujarat Hydrocarbon and Power SEZ Limited

Assam Company Limited has entered into MOU with GSPC to set up Sector Specific SEZ for providing products and related services for Oil & Gas, Energy and Petrochemical in Gujarat, during last Vibrant Gujarat Submit (2006). Based on the MOU, a SPV (Special Purpose Vehicle) was formed by the name of Gujarat Hydrocarbons and Power SEZ Limited (formerly known as Gujarat Hydrocarbon & Energy SEZ Ltd).

The State Government has recommended Gujarat Hydrocarbons & Power SEZ Limited proposal for setting up 450 Hectares of Sector Specific Special Economic Zone (SEZ) for providing products and related services for Oil & Gas, Energy and Petrochemical Sector, in Vilayat, Dist: Ankleahwar, Near:Dahej, the State of Gujarat.

Based on the recommendation, the Government of India has given its “in-principle” approval of the said SEZ Project at Gujarat.

GHPSL has been offered 315 Hectares of Land by Gujarat Industrial Development Corporation at Vilayat, Dist:Bharuch, out of which physical possession of 276 Hectares of land had been taken. Rest of the land is under acquisition and same will be completed soon.

The Company is also mulling the option for setting up a dedicated jetty in Dahej to cater the need of proposed unit in the SEZ.  The Company has approached authorities in Gujarat to allocate the site for the jetty in Dahej.

Development work at the site (SEZ site in Vilayat-Dist: Bharuch, Gujarat) is in the full swing. The first phase of the operation is likely to commence by 2010.

The Joint Venture Agreement between Gujarat Hydrocarbons & Power SEZ Ltd and Gujarat State Petroleum Corporation is in the process of finalization. The Company is also approaching both State Govt. and Central Govt.  for the “Final Notification” and the process regarding same is in final stage.