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 About Us 23 April 2014  

ABOUT US

 

          MEPZ 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.

            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.

 

MEPZ, 2003.