PROFILES OF MEMBER CORPORATIONS
ANDAMAN & NICOBAR ISLANDS INTEGRATED DEVELOPMENT CORPORATION LIMITED (ANIIDCO)


Aims, objectives and functions of ANIIDCO 

ANIIDCO was established on June 28, 1988 as a Company under the Companies Act, 1956.  The Companyís objective is to develop and commercially exploit the natural resources of the territory for the balanced and environmentally sound development of the territory, operating on sound business principles.  The ongoing development and trading activities of ANIIDCO include Tourism, Supplies, Industrial Finance and Fisheries.

Share Capital

The authorised share capital of the Company is Rs. 50 crores and the paid-up share capital so far is Rs. 10.07 crores.

Administrative set up

The management of ANIIDCO vests with the Board of Directors.  The Corporationís activities are carried on under the immediate supervision and direction of its Chairman and Managing Director Shri Balbir Singh  IAS.  The Corporation has got a staff strength of 220.

Operational Results

The turnover of the Company for the financial year 1998-99 was Rs. 37.41 crores. The turnover of the various divisions for the year 1998-99 is as under :-

                                               (Rs. in crores)
 

1. Tourism 0.83
2. Supplies :
  a) Iron and Steel 7.02
  b) Milk 1.43
  c) POL 9.25
  d) IMFL 23.03
  e) Vegetables 0.14
3. Credit & Finance 0.11

Tourism Division 

The Corporation is running Megapode Nest a 28 room hotel, Vishranti, a sea food restaurant and Vatika, a Beer Bar, near the Sea.

Steel Division

The Corporation is operating as the nodal agency for procuring and distribution of Iron and Steel to various Govt. Departments and SSI Units.

Milk Division

The Corporation is producing and marketing reconstituted toned milk, sweetened milk and cottage cheese to consumers in Port Blair city.

POL Division

The Corporation is supplying petroleum products like petrol, diesel and lubricants in various parts of A&N Islands.

IMFL Division

The Corporation is the sole licensee, distributor and retailer of IMFL & Beer in various parts of A&N Islands.

Credit and Finance Division

In 1997 the Govt. of India notified ANIIDCO as a State Financial Corporation. This Division implements the following schemes  :

1. Loan to Tiny and Cottage Industrial Projects

Under the scheme a maximum loan of Rs. 5.00 lakh is extended to SSI Units at concessional interest rate of 7% for term loan and 10% for working capital.

2. General Scheme

Under the Scheme industrial concerns, as per IDBI guidelines, are extended financial assistance.

3. Credit Guarantee Scheme

Under the Scheme SSI units unable to offer collateral security for obtaining credit facilities from lending institutions are provided credit guarantee in lieu of collateral security.

The Corporation as on March 31, 2000 has sanctioned loans of Rs. 438.57 lakh to 120 units and disbursed loans of Rs. 355.89 lakh to 98 units. The Corporation has also extended credit guarantee to 17 units for Rs. 29.72 lakh.