HSIDC to set up housing finance co.

Haryana State Industrial Development Corporation Ltd. (HSIDC) has decided to set up a housing finance company to meet the requirements of the housing sector in Haryana. Chairman of HSIDC Shri Vishnu Bhagwan (also principal secretary to Chief Minister), said on Tuesday that the new company would be subsidiary of HSIDC with 51 per cent share holding. The other organisations participating in the equity of this company would be Haryana Financial Corporation, Haryana Urban Development Authority and National Housing Bank. 

UPSIDC offers sops for EOUs in Greater Noida

With a view to boost exports from the area, the UP State Industrial Development Corporation (UPSIDC) has announced a package of incentives to units establishing base in export promotion industrial park in Greater Noida. 

The incentives include rebate in premium for units starting production within stipulated time and first five units to start manufacturing and export from the area would be offered additional incentives in the form of waiver of service charges for the next three years from the date of production. 

"The area designed to cater to non-polluting export oriented units (EOUs) exporting 33 per cent of the total produce focuses on attracting computer software and hardware, electronics, garments, handicrafts, gem and jewellery industries" according to the Managing Driector of UPSIDC Shri Rajeev Kumar. 

The park will have specialised services like integrated security system, Cargo Aggregation Centre by Central Warehousing Corporation, customs facilities, etc. 

TIDCO to float Net incubator fund

The Tamil Nadu Industrial Development Corporation (TIDCO) proposes to float an Internet incubator fund soon to help start up software companies in the state to overcome initial hiccups. 

The fund, which has a corpus of about Rs.10 crore is expected to become operational in about three months. It hopes to help at least 20 new ventures with a minimum capital support of Rs.50 lakh. The incubator fund is expected to have the backing of many interested individuals and a few other software companies. 

The fund, not borne out of any corporate initiative, is expected to be operated by a separate thrust firm. The blue print on the structure and other operational modalities of the fund are expected to be drawn up by the end of April. 

KSIDC pact on e-commerce

Kerala State Industrial Development Corporation (KSIDC) on March 21, 2000 signed an MoU with the Hyderabad based MYM Trade and Channel Ltd., for setting up an information technology unit for e-commerce. The project with an estimated capital investment of Rs.35 crore would be set up in technopark in Thiruvanathapuram and provide employment to 250 persons. The agreement was signed by KSIDC, MD Shri Harjinder Singh and Shri M.Y. Maharishi of MYM trade and channel. MYM had a strategic alliance with Micosoft Consulting Services for skill transfer and project implementation and an agreement with Wipro Software products division for mutual marketing and for development of e-commerce solution for Wipro corporation. The firm has also partnered with Apollo Hospital to design, develop and market e-health scan, a total health online lifestyle assessment and prescription application. MYM has entered into MoU with 12 countries in the Gulf for e-commerce and e-trade activities. 

RIICO changes land allotment norms

Investor-friendly changes have been made by RIICO (Rajasthan State Industrial Development and Investment Corporation Limited) in its land policy. The thrust of these changes is to allow flexibility in the operation of land allotment rules for putting up industrial projects in the State. 

RIICO will now charge a premium of only 10 per cent as against the hitherto 30 per cent on transfer of industrial land says Dr. D.C. Samant, Chairman and Managing Director of RIICO. 

As a result of the reduction in the premium rates the transfer of land would be more rapid with the entrepreneurs using the surplus money for putting up new projects. 

Retention charges would be levied only after two years for starting construction on such plots and five years for completion. 

"We have decided to have a consolidation policy to have better results" said Dr. Samant. He disclosed that only recenly RIICO had returned 7000 acres of land valued at Rs.25 crore which was acquired earlier. The land had been acquired for promoting industrial areas. "The policy is to consolidate rather than to expand",