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April 2012

A.P. (DIR Series) Circular No. 85, dated 29- 2-2012 — External Commercial Borrowings (ECB) for Infrastructure facilities within National Manufacturing Investment Zone (NMIZ).

By Gaurang Gandhi, Chartered Accountant
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For the purposes of ECB, infrastructure sector includes: (i) power, (ii) telecommunication, (iii) railways, (iv) road including bridges, (v) sea port and airport, (vi) industrial parks, (vii) urban infrastructure (water supply, sanitation and sewage projects), (viii) mining, refining and exploration and (ix) cold storage or cold room facility, including for farm-level precooling, for preservation or storage of agricultural and allied produce, marine products and meat.

Presently, developers of SEZ are allowed to avail ECB to provide such infrastructure facilities within the SEZ.

This Circular permits developers of NMIZ also to avail of ECB under the Approval Route for providing infrastructure facilities within the NMIZ.

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