News Article
No SEZ For SPEL Semiconductor
The company withdraws its plans for Special Economic Zone project
As reported in local media, SPEL Semiconductor has halted its plans to set up a Special Economic Zone (SEZ) since it sees itself unable to go ahead with the project. SPEL has not disclosed any reason for its decision.
The company has decided to contact the Indian government to cancel the approval granted for the SEZ project the company informed the Bombay Stock Exchange. The decision was made on June 20. 2008, by the board of IC assembly and test.
SPEL was granted to set up the SEZ Chennai in 2007 to facilitate the region with IT hardware manufacturing.
The company has decided to contact the Indian government to cancel the approval granted for the SEZ project the company informed the Bombay Stock Exchange. The decision was made on June 20. 2008, by the board of IC assembly and test.
SPEL was granted to set up the SEZ Chennai in 2007 to facilitate the region with IT hardware manufacturing.
