Haryana bets on infra projects to thwart crisis

The Haryana State Industrial and Infrastructure Development Corporation (HSIIDC) is looking en route for various Private Public Partnership Projects (PPP) to help thwart the slowdown in the market.

According to HSIIDC officials, with the current slowdown, Haryana was looking to gain from PPP projects that not only promised to bring in investments for the state but eventually would also help ease out the clog in demand and build vital infrastructure in the state.

HSIIDC had entered into agreements with six developers for setting up of prestigious special economic zones (SEZs) in the state. The players selected for setting up SEZs in Haryana include Reliance, DLF and Unitech. Apart from this, HSIIDC has also partnered with Hotmail founder Sabeer Bhatia’s Nanoworks Developers Limited for developing Nanocity in Panchkula and with Dutch Haryana Business Consortium for developing European Technology Park in Faridabad.

According to HSIIDC officials, the estimated combined investment in all the PPP projects signed by HSIIDC would be around 70,000 crore and could generate employment to around 1.8 million people. The officials maintain that in most of the PPP projects land acquisition was in advance stages and once the land acquisition is complete the projects would commence.

HSIIDC is looking to sign PPP projects for the industrial corridor as well that would be built along the 1,483 km long Delhi-Mumbai freight corridor.

The government of India has created the Delhi Mumbai Industrial Corridor Development Corporation (DMICDC) for development of industrial corridor along the Delhi Mumbai freight corridor.

HSIIDC, the nodal agency for implementing the industrial corridor project in Haryana, has identified four early bird projects that include Mass Rapid Transport Service (MRTS) between Delhi-Manesar-Bawal, logistic hub at IMT Manesar, convention cum exhibition centre in NCR and new rail link at Palwal-Rewari via Bhiwadi, Farrukhnagar-Jhajjar.

The HSIIDC officials maintain that the upcoming PPP projects in Haryana apart from lending the much-needed impetus to the state’s economy would also create vast employment opportunity for people thus dislodging fear of layoffs in wake of slowdown.