MEPZ Special Economic Zone
MEPZ(Madras Export Processing Zone) Special Economic Zone was established in 1984 with the objective of promoting foreign direct investment, enhancing foreign exchange earnings, and creating greater employment opportunities.
The Zone was converted into a Special Economic Zone on 1.1.2003. The added objective of the SEZ is to facilitate exports through reduction of transaction costs. To this effect, the Ministry of Commerce and Industries has introduced special features that include Offshore Banking Units and Container Freight Stations to be set up within the Zone, besides liberalised Customs procedures. It is expected that the cost, time and effort saved would translate to higher exports from the Zone.
MEPZ SEZ is a multi-product Zone housing 117 functional units. Another 27 units are under various stages of implementation. The export turnover for the year 2006-2007 was Rs.2462 crores. Garments, software and engineering products contributed more than 50% of export value. Recent growth has been in engineering sector with special reference to automobile ancillaries.
Location
Located in Chennai(formerly Madras), the Zone is under the administrative control of the Ministry of Commerce and Industries and caters to the needs of both units in the Special Economic Zone as well as of 100% EOUs located in Tamil Nadu, Pondicherry and Andaman & Nicobar islands. The Zone is headed by Development Commissioner.
Advantages
Modern Harbour
Chennai Port is an artificial harbour situated 24 kms from MEPZ SEZ on the Coromandel Coast in South-East India and it is the second principal Port for handling Containers. Chennai Port has 21 alongside berths in the 3 Docks viz., Dr.Ambedkar Dock, Jawahar Dock, Bharathi Dock and Container Terminal. The Chennai climate permits port operations throughout the year.
The Port authorities have taken measures to reduce turnaround time. At present, berths are available on demand. Chennai port has privatized the Container Terminal which is now managed efficiently by CCL.
International Airport
International airport is situated at Trisulam 6 Km North of MEPZ SEZ. The domestic network links Chennai with 20 important cities within the country. The INDIAN AIRLINES serves a majority of the sectors. JET AIRWAYS and SAHARA AIRLINES also operate in Chennai. International Airport facilitates passengers from London, Frankfurt, Dubai, Muscat, Bahrain, Dhahran, Jeddah, Singapore, Kuala Lampur and Sri Lanka. Besides AIR INDIA and INDIAN AIRLINES. BRITISH AIRWAYS, LUFTHANSA, SINGAPORE AIRLINES, MALAYSIAN AIRLINES, AIR LANKA, OMAN AIR, GULF AIR and SAUDIA AIRLINES are operating direct flights to and from Chennai.
