August 25, 2023 | Investopaper
The Simara Special Economic Zone (SEZ) located within the Jitpur Simara Sub-Metropolitan City has granted operational permissions to approximately 25 new industries, marking a significant step toward augmenting trade opportunities and employment prospects.
Initiated with the vision of curbing trade deficits and fostering job creation, the foundation stone for the Simara SEZ was laid by former Prime Minister KP Sharma Oli. Spanning an expanse of 833 bighas, the SEZ repurposed the land of the Birgunj Sugar Mill for this transformative endeavor. Nearly six years post its establishment, the green light was given for industries to commence operations within the SEZ.
Among the 25 permitted industries, four have already inked agreements with the authority and initiated the construction of physical infrastructure.
Notably, a stipulation mandates industrialists to pay a rental fee of NPR 10 per square foot of land allocated for operating within the Simara SEZ. Furthermore, these newly licensed industries are expected to commence the construction of necessary physical infrastructure within 120 days from the date of acquiring the permit.