Tripura SEZ with investment of Rs 1550 crore to create 12,000 jobs

AGARTALA | December 19, 2019:

Tripura's first special economic zone (SEZ) with an estimated investment of Rs 1,550 crore, which will generate 12,000 skilled jobs, will come up at Paschim Jalefa, Sabroom, the central government said on Wednesday.

The Ministry of Commerce and Industry has notified the setting up of the first-ever SEZ in the state.

The sector-specific economic zone for agro-based food processing is being set up at Paschim Jalefa, Sabroom, South Tripura District, which is 130 km away from Agartala.

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"The estimated investment in the project will be around Rs 1,550 crore," the government said.

The developer of the SEZ will be Tripura Industrial Development Corporation.

Rubber-based industries, textile and apparel sectors, bamboo and agri-food processing industries will be set up in the SEZ.

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Setting up of the SEZ in Sabroom will open up new avenues to attract private investment considering the proximity of the Chittagong Port and construction of the bridge across Feni River in South Tripura that is underway, it added.

After it is set up, 100 per cent income tax exemption will be provided on export income for SEZ units for the first 5 years.

Also, 50 per cent exemption will be provided for the next 5 years and 50 per cent of the ploughed-back export profit for another 5 years.

PTI