Japanese Complex to be set up
HSIDC which is the nodal agency for developing industrial and support infrastructure in Haryana has been given the task of setting up a Japanese Complex by the State Govt. The complex is planned to be situated on National Highway-8 (Delhi-Jaipur Highway). It has been futuristically designed in Japanese ambience. The building is to be organically developed in such a way that the structure as a whole appears akin to a sculpture both internally and externally. This is the first time in Haryana that an experiment with sculptural architecture has been attempted. The complex contains an auditorium, banquet hall, business centre, gym, swimming pool apart from double room sets, single rooms and a luxurious Bar-cum-restaurant. It will be centrally air-conditioned with hundered percent standby power back up. The cost of this complex has been estimated at Rs.18 crore and it is likely to be completed within 18 months.
Term loan for multiplex entertainment complex
HSIDC has sanctioned a term loan assistance to the tune of Rs.10 crore to M/s SRS Commercial Company Ltd., Faridabad for the construction of a multiplex entertainment complex. The multiplex would house shopping malls, cinema halls, entertainment, games, fast food outlets and restaurants to capture a bigger share of consumer spending by offering different activities under one roof to satisfy various consumer needs. People have to go out to one place for entertainment, then to another for eating out, then to another for shopping. This results in either one of the activities getting postponed or more travel time which leads to inconvenience. The Corporation has already developed commercial complexes at Udyog Vihar Gurgaon and IMT Manesar, which have become the preferred destination for a large number of MNC and business houses.
The total cost of this project has been estimated at Rs.2,191 lakh which includes Rs.543.96 lakh towards land cost, Rs.643.92 lakh towards building, Rs.638.33 lakh towards installation utilities and fixtures and the balance towards misc. fixed assets, contingencies and preliminary and preoperative expenses. It is proposed to be financed by way of share capital of Rs.1000 lakh, interest free unsecured loans of Rs.191 lakh besides a term loan of Rs.1000 lakh from HSIDC.
Sops for HSIDC allottees at Karnal and Rai
HSIDC has decided to reduce the incidence of enhanced compensation chargeable from the allottees of industrial estate at Karnal from Rs.253 per sq. mtrs. to Rs.110 per sq. mtr. The decision would benefit a large number of entrepreneurs in the industrial estate at Karnal. The allottees of this estate have been making representations to reduce this amount on the plea that the saleable area of the Industrial Estate at Karnal was far less as compared to any other industrial estate developed by HSIDC. The issue was taken up by HSIDC with the State Govt. in the department of Town and Country Planning to review the proposals of Development Plan. On account of amendments in the Development Plan, an area of 5 acres became available with HSIDC for allotment which otherwise was not saleable. HSIDC reviewed its plan thereby increasing the saleable area from 48 percent to 58 percent.
Similarly, a decision has been taken not to charge the enhanced compensation awarded by the Court from the allottees of the newly developed industrial estate at Rai in district Sonipat. HSIDC was asked to pay total enhanced compensation of Rs.6.75 crore which was to be passed on to the allottees of the industrial estate at Rai. This would have substantially increased the cost of land in this estate thereby effecting the economic viability of the industrial projects being set up at Rai. HSIDC revised the development plan as a result of which the saleable area increased from 55 percent to 62 percent. The enhanced compensation was absorbed by reworking the price as per the revised lay out plan. This would greatly benefit the 662 existing allottees in the industrial estate at Rai besides keeping the price of land at par with the nearby industrial estate at Kundli.
Term loan sanctioned for expansion
M/s Usha Fabs Pvt. Ltd., - an existing loanee unit of HSIDC have been sanctioned a term loan assistance to the tune of Rs.580 lakh by the Corporation for their proposed expansion project of setting up a new plant to undertake the embroidery activities at Udyog Vihar, Phase V, Gurgaon. This project is also to be financed under the TUFS (Textile Upgradation Fund Scheme) of the Ministry of Textiles, Govt. of India. The company achieved a turnover of Rs.845.87 for the F.Y. 2001-2002 and earned a net profit of Rs.89.54 lakh. At present the company is in the business of computerised embroidery and trading of readymade garments.
The promoters are experienced businessmen having almost 22 years of experience in the manufacture and export of readymade garments. The company is installing hi-tech computerised embroidery machinery which will give economical as well as high quality production.
The proposed expansion project is estimated to cost Rs.968.86 lakh, which is proposed to be financed by way of an equity share capital Rs.388.86 lakh and the term loan of Rs.580 lakh from HSIDC. HSIDC has developed a commercial complex, Vanijya Nikunj within its flagship Industrial Complex Udyog Vihar, Gurgaon as part of its effort to provide complete infrastructural facilities to entrepreneurs. Spanning a covered area of 72000 sq. mtrs. the complex comprises 8 futuristically designed blocks including the tallest `Udyog Minar' which has been constructed by HSIDC.
Udyog Minar, a towering nine storied futuristically designed building has a covered area of 1,00,000 sq. ft. (excluding basement area). The building, constructed at a cost of Rs.10.44 crore, offers state-of-the-art amenities such as centrally air conditioned with 100% power back-up, three passenger lifts and a goods lift, automatic fire extinguishing sprinkler system, column free space commensurating users requirement and adequate parking space.
Three stories in this building with a covered area of 35,000 sq. ft. have already been leased out to the Commissionerate of Central Excise. The ground floor of the building is being leased out for a restaurant complex for which offers have been received by HSIDC from some well established groups. The office of the Central Excise in this building shall be a boon for the entrepreneurs of Udyog Vihar and adjoining areas particularly the units engaged in export and import. The other towers in Vinijya Nikunj are housing corporate giants like Coca Cola, Max India, Rico Auto, Hindustan Thompson Associates, Foster & Wheeler and many others.
HSIDC at Free Trade Zone Exhibition at Mumbai
HSIDC participated in World Free Trade Zone Expo-2002 exhibition held at World Trade Centre, Mumbai from 30th September to 2nd October in 2002. This was the first ever broad based exhibition for shocasing free zones as fast lanes to attract foreign direct investment. HSIDC tastefully displayed blow ups and bromides containing information about the special economic zone being set up at new Gurgaon near Garhi Harsaru over an area of 3,000 acres at an estimated cost of Rs.948 crore which would help in accelerating economic growth-led development, besides promoting foreign direct investment (FDI) and resultant exports. The SEZ would cater to a wide spectrum of target segments such as auto and auto components, high precision industries, textiles especially readymade garments, pharmaceuticals, IT industry-software and hardware, white goods and light engineering goods. About 2,400 units would be set up in this zone providing employment to more than 60,000 workers. These units would generate an export of around Rs.42,000 crore. About 30 big national and international organisations participated in this exhibition and a large number of visitors from India and abroad visited this exhibition. Alongside the trade show, a number of seminars and interactive sessions were organised by the CII which were addressed by Government and Private industry leaders.
KSIDC invites proposals to establish mineral sand based projects
Kerala State Industrial Development Corporation Ltd. has been authorised by the Govt. of Kerala to recommend proposals for the establishment of mineral sand based projects in the joint sector. As per the policy, mining leases will not be granted solely for the purpose of mining alone. Mining leases will be granted only to factories to be set up in the state in the joint sector, which will produce value added products.
Joint sector, in this context, has been defined as companies in which Central/State Government/ their agencies including corporations together hold not less than 26% equity by way of equity or preference capital with the right to appoint Directors in terms of their share holding in the company.
Selection Criteria :
Private Promoters for establishing projects are to be selected by KSIDC for recommendation based on the following criteria :
Brief business plan for developing mineral sand based projects.
is a higher value than independence