Madras Export Processing Zone

Special economic zone in Chennai, India

Madras Export Processing Zone
Company typeSpecial Economic Zone
Founded1984
Headquarters
Chennai
,

India
ProductsMulti-product (Garments, software, engineering)
OwnerGovernment of India
Websitewww.mepz.gov.in

Madras Export Processing Zone (MEPZ) is a special economic zone in Chennai, India. It is one of the seven export processing zones in the country set up by the central government.[1] It was established in 1984 to promote foreign direct investment, enhance foreign exchange earnings, and create greater employment opportunities in the region.[2]

Location

The MEPZ is located on GST Road in Tambaram, Chennai. It is located 6 km south of Chennai International Airport.

History

The MEPZ was started in 1984 as an initiative of the Ministry of Commerce and Industry with an investment of ₹ 6716.7 million.[3] On 1 January 2003, the zone was converted into a special economic zone (SEZ)[2] with an added objective of facilitating exports through reduction of transaction costs.[4] To facilitate this, the Ministry of Commerce and Industries introduced special features such as offshore banking units and container freight stations to be set up within the zone, in addition to liberalised customs procedures.[4]

In March 2013, an additional exit and entry point for heavy vehicles arriving at and leaving the MEPZ–SEZ was opened.[5]

Administration

The zone is under the administrative control of the Ministry of Commerce and Industries and caters to the needs of units within the SEZ, in addition to monitoring the functions of 100-percent export-oriented units (EOUs) located in Tamil Nadu, Pondicherry, and Andaman & Nicobar Islands.[3] The zone is headed by a development commissioner.

Special economic zone

Spread over an area of 265 acres (109 hectares),[3] MEPZ SEZ is a multi-product zone housing 117 functional units.[4] In addition, another 27 units are under various stages of implementation.[4] The zone employs over 26,000 people.[3] In the manufacturing front, there are 110 SME units in the zone. MEPZ's manufacturing sector employs nearly 20,000 people.[3] IT companies housed in the zone include Cognizant Technology Solutions, Computer Sciences Corporation, CSS and HTC Global Services among others.[2] About 50 container trucks arrive at and leave the zone every day.[5]

Infrastructure

The zone has an exclusive 230 KV sub-station, capable of supplying 30 MW. It also has an exclusive telephone exchange with fibre optic connectivity, a post office, video conferencing facility in the administrative building, and a telecommunication tower. The foreign exchange transactions of the zone are facilitated by a branch of Indian Bank located within the SEZ.[6]

Revenue

The export turnover for the year 2006-2007 was ₹ 24,620 million, of which manufacturing sector accounted for 70 percent.[3] Garments, software, and engineering products contributed more than 50 percent of the export value. In recent years, engineering sector has been promoted with special reference to automobile ancillaries.[4]

As of 2008, software exports from the zone averaged ₹ 300 to 350 million per month.[3]

See also

  • flagIndia portal
  • iconBusiness and economics portal
  • Economy of Chennai

References

  1. ^ Narasimhan, T. E. (23 June 2010). "Six new SEZs to come up in TN". Business Standard. Chennai. Retrieved 30 March 2013.
  2. ^ a b c "MEPZ not to allow more IT firms". Business Standard. Chennai. 29 May 2010. Retrieved 30 March 2013.
  3. ^ a b c d e f g Menon, Ravi (8 October 2007). "MEPZ posts 25% growth in exports". Business Standard. Chennai. Retrieved 30 March 2013.
  4. ^ a b c d e "About us". MEPZ.gov.in. Retrieved 30 March 2013.
  5. ^ a b "New gate at Tambaram SEZ to end traffic hassles on GST Road". The Hindu. Chennai. 24 March 2013. Retrieved 30 March 2013.
  6. ^ "Infrastructure". MEPZ.gov.in. Retrieved 30 March 2013.

External links

  • Home page of MEPZ
  • MEPZ page in SEZIndia.nic.in
  • v
  • t
  • e
Early history (pre-1500)
Colonial period (1500–1900)
Modern period (1900–present)
Writers and historians
Regions
Waterways
Lakes
Islands
Zoological parks
Reserve Forests
Marshlands
Heritage
monuments
Statues
Memorials
Districts
Taluks
Chennai District
Tiruvallur district
Kanchipuram district
Vellore District
Constituencies
Parliamentary
  • Chennai Central
  • Chennai North
  • Chennai South
  • Sriperumbudur
  • Thiruvallur
Assembly
  • Alandur
  • Ambattur
  • Anna Nagar
  • Avadi
  • Chengalpattu
  • Chepauk
  • Egmore
  • Harbour
  • Kolathur
  • Madhavaram
  • Maduravoyal
  • Mylapore
  • Pallavaram
  • Perambur
  • Ponneri
  • Poonamallee
  • RK Nagar
  • Royapuram
  • Saidapet
  • Sholinganallur
  • Sriperumbudur
  • T.Nagar
  • Tambaram
  • Thiru. Vi. Ka. Nagar
  • Thiruvottiyur
  • Thousand Lights
  • Tiruvallur
  • Villivakkam
  • Virugambakkam
  • Velachery
Nodal agencies
Business
districts
SEZ
Companies and
institutions
Industry
General
Beaches
Parks
Cinemas
Periodic events
Theme parks
Shopping malls
Clubs
Temples
Churches
Others
Air
Sea
Rail
Railways
Stations
Road
Roads and
expressways
Grade separators
and flyovers
Others
Venues
Teams
Badminton
Cricket
Field hockey
Football
Kabaddi
Tennis
Table tennis
Volleyball
Others
Institutions
Education
Universities
Engineering
Medical
Arts and
science
Research
Diplomatic
missions
Hospitals
Hotels
Localities
North
West
Central
South
  • Category
  • flag India portal
  • WikiProject

12°56′37″N 80°07′16″E / 12.94361°N 80.12111°E / 12.94361; 80.12111