PROFILE
| Sikkim
Industrial Development & Investment Corporation (SIDICO) was set up
in the year 1977 as a company under the Registration of companies Act,
Sikkim, 1961 for the development of small and medium scale industries in
the state and to perform the twin role of State Industrial Development
Corporation and State Financial Corporation. Financial assistance is made
available by the Corporation for fixed assests such as land, building,
plant and machinery etc. with an ultimate objective of setting up of industries
in the State. The upper limit for grant of loan is Rs. 90 lakhs for individual
units. Term loans are extended to new industrial units as also to existing
units for supporting their expansion, diversification,
modernisation and rehabilitation programmes. |
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Functions and
objectives
Promotion,
financing and development of tiny, cottage, small and medium sector in
the State of Sikkim.
Providing
soft loan/seed capital assistance.
Participating
in the equity capital in selective venture projects.
Procuring
and distributing raw materials for selective industries/activities.
Authorised and paid
up capital.
The
authorised capital of the Corporation is Rs. 20 crores. The
subscribed and paid up capital is Rs.
14.74 crores as on 31st March, 1999.
The Government of Sikkim is holding equity of Rs. 8.37 crores
and IDBI Rs. 6.37 crores.
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